Democrats’ Plan to Combine Oil Spill Legislation, Energy Bill Meets Republican Resistance

Oil spill legislation being drafted on Capitol Hill should remain separate from energy legislation slated for the Senate floor consideration this summer…

Carbon Emissions Caps for Only Utilities Get New Look as Climate Bill Advocates Search for Votes

Struggling to find the 60 votes they need to get a climate change bill to the Senate floor, Democratic senators said June 22 they are open to scaling back…

Carried Interest Tax Increase, S Corporation Curbs Softened in New Tax Extenders Proposal by Senate Finance Panel Chair Baucus

Senate Finance Committee Chairman Max Baucus (D-Mont.) June 16 introduced a new substitute amendment (S. Amdt. 4369) to the tax extenders bill (H.R. 4213) that would…

Obama Calls for Energy, Climate Bill; Says Gulf Oil Spill is Reminder That Country Must ‘Embrace Clean Energy Future’

President Obama devoted his first Oval Office speech to the oil spill in the Gulf of Mexico June 15, saying the incident is a reminder “that the time to embrace…

Senate Majority Leader Reid Seeks to Limit Debate, Pass Tax Extenders Legislation by Week’s End

Senate Majority Leader Harry Reid (D-Nev.) filed a motion June 14 to invoke cloture on the tax extenders bill (H.R. 4213) in an effort to complete the…

Senate Finance Committee Amends House-Brokered Tax Extenders Bill to Soften Carried Interest Tax Increase

The Senate began debate on an updated version of a tax extenders bill (H.R. 4213) June 8 that would scale back the tax increase on investment managers’ carried interest…

Supreme Court Finds Federal Court Challenge to Ohio Tax Benefit Is Barred by Comity

The U.S. Supreme Court ruled June 1 that, under the comity doctrine, a federal lawsuit brought by retail natural gas suppliers that challenges Ohio’s natural gas taxation scheme as unconstitutional must…

Carried Interest Tax Hike Passes House in Tax Extenders Bill; Senate Outlook Unclear

The House voted 215-204 May 28 to extend dozens of popular tax cuts through the end of 2010 and raise taxes on investment fund managers and businesses with foreign income…

Tax Extenders Bill Seen Raising $11 Billion from Rules on Self-Employment Taxes

Congress’s proposed changes to the treatment of self-employment taxes on professional service providers are expected to raise $11.2 billion in new revenues for the federal government to help pay for…

Senate Cap-and-Trade Proposal Includes Numerous Nuclear Tax Incentives

The latest iteration of legislation unveiled May 12 by Sens. John Kerry (D-Mass.) and Joseph Lieberman (I-Conn.) aimed at reducing U.S. greenhouse gas emissions through a cap-and-trade program includes a…

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