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Advocacy Blog
Wednesday, February 15, 2006
Senate Names Tax Reconciliation Conferees
The Senate leadership appointed three conferees for the upcoming tax reconciliation conference. Here is the full list of conferees:
In the Senate: Finance Committee Chairman Charles Grassley (R-IA);
Finance Ranking Member Max Baucus (D-MT); Senator Jon Kyl (R-AZ) and
In the House: Ways and Means Chairman Bill Thomas (R-CA); Ways and Means Ranking Member Charles Rangel (D-NY);
Representative Jim McCrery (R-LA); Representative Dave Camp (R-MI);
Representative Pete Stark (D-CA)
The eight conferees will work to reconcile the differences between S. 2020 and H.R. 4297.
Chairman Grassley has indicated that the tax reconciliation conference will begin after the President’s Day recess (Feb. 20-24). Senate and House leaders hope to take final action on the tax reconciliation bill sometime before the St. Patrick’s Day recess (March 20-24).
Last week, the Senate agreed to a manager’s amendment that made a couple of small changes to the charitable incentive provisions included in S. 2020. On the non-itemizer deduction provision, the amendment clarified that the floor of $210 ($420 for joint filers) would last only two years for both itemizers and non-itemizers. On the IRA charitable rollover, the bill will now allow taxpayers to transfer assets from IRAs to split-interest trusts beginning at age 59 ½.
Posted by Jennifer Lowe
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