The Senate is getting serious about approving an AMT patch, the tax extenders package, energy-related tax cuts, and a package of tax cuts intended to provide relief for the Midwest flood victims. Although the $17 billion energy section of the bill is fully offset, the AMT/extenders section is only partially offset. On Wednesday, Senate Majority Leader Harry Reid (D-NV) filed for cloture for the bill, setting up a vote on the measure as early as Thursday. The $124 billion bill breaks down like this: Tax Package to be Considered by Senate, Week of Sept. 15, 2008 Provision Cost Offset

We'll be shutting down the BudgetBrigade a bit early today to head off to OMB Watch's 25th Anniversary celebration. Yup, that's right. OMBW is 25 years young this year and we're primed and ready for our quarter life crisis! We're taking some time to celebrate tonight with friends and supporters and remember 25 years of fighting for a more transparent and accountable federal government.

The House and Senate are working each working a number of pieces of tax legislation. Below is a brief summary of which bills might contain which provisions in each house. This is all subject to change by the hour, but hopefully it'll disambiguate what's up for consideration. House Action:

I came across more good news from the IRS today (well, Friday actually) and I'm not really sure what to do with myself. BNA reported late on Friday afternoon that Lisa McCaughey, a senior tax analyst with the Small Business/Self-Employed Division reported that the IRS is reducing the staggering number of audits they conduct each year of taxpayers who claim the earned income tax credit (EITC). Woohoo!