
CARE Act Amendment Filed in the Senate
by Guest Blogger, 3/7/2004
Sens. Rick Santorum (R-PA) and Joseph Liberman (D-CT) have put together a charitable giving package identical to the the CARE Act . The two Senators filed the amendment to the Foreign Sales Corporation Tax Bill (S. 1637), a bill to repeal the U.S. export tax regime.
The amendment will not contain offsets for the $12.3 billion in tax incentives that will be created. The CARE Act has been stalled in conference committee with the House over disagreement over offsets, or revenue raisers. Santorum told the Bureau of National Affairs, “It would be with the understanding that appropriate offsets could be identified before the Senate moved to final passage of the underlying bill.” 53 amendments have been filed to S. 1637.
This bill has become highly political. Senate Republicans are getting frustrated with the number of Democratic amendments filed, which they say do not pertain to the bill. One Democratic amendment would limit the ability to outsource federal contracts to companies overseas unless they received a national security or presidential waiver. Another controversial amendment would repeal a Labor Department provision that blocks overtime pay for millions of workers. There are rumors that Sen. Majority Leader Frist might pull the bill if the two parties can’t come to some sort of resolution on the 53 filed amendments. Is unlikely that any action will be taken before Senate returns from its March recess.
