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This Week

The House is in recess. The Senate, having failed to advance energy efficiency legislation, will spend the week working on tax extenders. The Senate will take up Senate Finance Committee Chairman Ron Wyden's tax-extenders legislation after passing it out of committee last month, and just days after the House passed a bill to make the so-called R&D tax credit permanent. The House and Senate are pursuing different approaches to tax extenders, with the Senate putting dozens of the provisions into one bill, while the House follows a more piecemeal strategy. The Senate's Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act would cut government revenues by $81.3 billion over 10 years and increase deficits by $84.1 billion, according to Congressional Budget Office estimates. It would extend several dozen provisions through December 2015. more

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