Tax Extenders: a Hail Mary, then Time to Punt?

House-Senate negotiations on the oft-deferred tax extenders package broke down today. With adjournment for the year expected by week's end, prospects now look more likely for a lump of coal than a compromise. The sticking point: a provision to forestall a scheduled five percent cut in Medicare payments to physicians, scheduled to take effect in January. The provision would cost an estimated $10.8-12 billion over five years. Still, the Senate may float the provision, along with numerous trade measures -- "a Hail Mary pass" over to the house, in the words of one Senate GOP aid.
back to Blog