Max Baucus: “There is in this legislation--first, this is treating all industries the same. Some industries are in a loss position…”

“There is in this legislation--first, this is treating all industries the same. Some industries are in a loss position and some industries are in a profit position. If a company is in a loss position, there are other provisions in the Tax Code--which, again, all industries should be treated the same. If you have a loss 1 year, you can benefit from the provisions, with the loss carryback provisions, and the legislation has credits, carrybacks.”