On the recordDecember 16, 2014
The Senate will soon vote on a one-year tax extenders package that, if enacted, will retroactively extend tax provisions that expired at the end of 2013. It is, quite literally, the least we can do, and at this point, it is something we must do. The remarkable thing about this tax extenders bill is that no one seems to be happy with it. I don't know a single Member of Congress that is pleased that we're going to pass a simple, one-year extension of expiring provisions. But, sadly, that's where we are. Of course, it didn't have to be this way. There was a time in the not-too-distant past when we were working on a package that would not only extend most of the expired provisions for a longer period time, but also make a number of important provisions permanent, thus eliminating much of the year-to-year roller coaster that individuals, families, and businesses have to go through when planning for their taxes. There was bipartisan agreement on such an approach. And, in fact, at one point it appeared that a deal--a bipartisan, bicameral deal--was on the immediate horizon. But, as we all know now, that deal came crashing down after the President and some of his more liberal allies here in the Senate decided they were unwilling to compromise. I came to the floor to talk about this debacle a couple weeks back, but some of the points bear repeating.…
