Don't Mess With Taxes

The House did OK an energy bill Tuesday, but the prospect for final passage of the measure is still up in the air. The complications:

• The Senate has its own energy bill, which could be derailed by a filibuster. However, to help push the energy package through, Senate Finance Committee leaders have added the extension of other, expired non-energy tax breaks and a one-year AMT patch, blogged about here, as well as disaster relief, to the mix. Details in this press release.

• Congress plans to hang around D.C. for just two more weeks before breaking for the election.

• A lame-duck session to reconcile any differences in the two bills is not a certainty.

• If the House version does ultimately prevail, the White House has threatened to veto it.

For the moment, though, the House has completed yet again an energy bill, with accompanying taxes and tax breaks. Details on the House version are available from my previous post and:

• Associated Press
• CNN
• New York Times
• Houston Chronicle