House Leaders Balk at Senate's Proposed Extenders Bill Changes

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Key House Democrats express opposition to changes the Senate is considering for the tax extenders bill (H.R. 4213), including their decision to scale back the tax increase on investment managers' carried interest earnings. Ways and Means Committee Chairman Levin says he does not support the Senate amendment's new carve-out for certain oil and gas partnerships. Levin fought off attempts in the House to create carve-outs for certain industries and says what he wants is what the House passed—a “generic plan.”