Senate Outlook Unclear for House-Passed Tax Extenders Bill

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The House votes 215-204 to extend dozens of popular tax cuts through the end of 2010 and raise taxes on investment fund managers and businesses with foreign income, but the outlook for the bill (H.R. 4213) in the Senate remains uncertain. The Senate will not begin consideration of the extenders package until the week of June 7, and, even then, Senate Majority Leader Reid says there will be a series of amendments offered on the bill, possibly requiring the House to vote on the measure again ahead of Congress's Independence Day recess. H.R. 4213 would provide temporary relief from funding rules for defined benefit pensions and new fee disclosure requirements for defined contribution plans. The bill also includes tax incentives promoting renewable energy and energy efficiency.