By Ben Gann, director of legislative affairs, NLBMDA
On Aug. 2, by a 19-5 vote, the Senate Committee on Finance approved legislation to continue dozens of expired or soon-to-expire tax breaks known as “tax extenders” through 2013, including the residential energy efficiency (25C) tax credit. The proposal was not supported by five of the committee’s 11 Republicans.
The committee approved the measure after many of the more than 100 amendments to the legislation were not offered. Sen. Olympia Snowe (R-Maine) had proposed two amendments seeking to strike the extension of the 25C tax credit and replace it with an incentive program linked to the way an entire house performs, but those amendments were withdrawn. During the markup, the committee expressed support for drawing up a comprehensive tax overhaul next year that would include broadening the tax