On the recordSeptember 19, 2012
last month the Senate Finance Committee reported bipartisan legislation on what are called the tax extenders. The Finance Committee tax extender legislation addresses a significant part of the so-called fiscal cliff. The Finance Committee bill would extend relief from the alternative minimum tax through 2013. It would extend tax incentives for renewable energy and energy conservation through 2013, and it would extend through 2013 the traditional extenders, among which are the R&D tax credit, the State and local sales tax deduction, and the tuition deduction. The Finance Committee reported that bill with a strong bipartisan vote of 19 to 5. The bill cuts taxes by $205 billion. It cuts taxes by $143 billion in fiscal year 2013 alone. Passing this bill today would help remove some of the uncertainties surrounding tax policy. Passing this bill today would help our economy. Passing this bill is the least we should do now. So I ask unanimous consent the Senate Finance Committee be discharged from further consideration of H.R. 9; that a Baucus amendment, which is at the desk, the text of which is identical to S. 3251, the Family and Business Tax Cut Certainty Act of 2012 as reported by the Finance Committee, be agreed to; that the bill, as amended, be read a third time and passed, the motions to reconsider be laid upon the table with no intervening action or debate, and any statements related to the bill be placed in the Record at the appropriate place as if read.…





