Fox News reports Senate Finance Chair Baucus will meet with the Senate Democratic caucus on Thursday and update them on his draft of the bill to extend the tax cuts. Baucus is working with the Joint Committee on Taxation on the provisions so they will fit under the “Pay-Go” rules. The word is the estate tax fix will be part of the bill. It appears he and Senate Leader Reid are determined to have a vote on these tax issues before the Senate adjourns for the mid term election.
Also, Jay Heflin at The Hill reports Baucus will not hold a Senate Finance Committee meeting on the issue of the tax cuts. He stated because there is not enough time. However, one suspects it is because he does not want to give the Senate Finance Republican Committee members a forum for advocating their position.
Corey Boles at Nasdaq.com just published an even more detailed analysis of the procedural wrangling going on.
By Kevin Staker