Tax Extender Bill Fails Yet Again

The Senate on Thursday failed to advance the American Jobs and Closing Tax Loopholes Act (H.R. 4213) (pdf), the “tax extender” bill that would have provided for additional months of emergency unemployment benefits and continued various tax relief programs, among other things. The 57-41 vote fell three votes short of limiting debate and scheduling final floor action on the measure. The latest version of the bill offered by Sen. Max Baucus (D-MT) was introduced on Wednesday in an effort to trim costs and gain enough support to pass it. Previous Senate-passed tax extender legislation would have extended the COBRA premium subsidy and various unemployment programs through the end of the year. In May, the House approved this legislation once COBRA premium subsidy extensions were dropped. Earlier this month, the Senate introduced a substitute version of the bill that lacked certain defined contribution pension plan fee disclosure provisions. After it became evident that he did not have enough votes to limit debate on the bill, Baucus introduced a scaled back version that ultimately – like the latest edited version – failed to gain sufficient approval. At this point, Senate passage of the bill in any form appears unlikely.

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