>>Renewable credit extension may piggy-back on Wall St rescue
October 1, 2008, 3:16 am
Filed under: Policy

The Associated Press and the New York Times reported Tuesday night that Senate leaders have a new plan to pass the $700 billion Wall Street rescue bill: Bribe House Republicans with tax cuts.

The Senate plans to vote Wednesday on a bill that would link popular tax cuts. These include the alternative minimum tax adjustment that would reduce taxes on 20 million middle-class families, tax relief for victims of natural disasters — and the renewable energy credits passed by the two houses, in separate bills, on Sept. 23 and 26. It would also raise the limit on federal deposit insurance from $100,000 to $250,000.

Promoters of the Wall Street rescue bill expect that the sweetening provisions may bring over the 12 votes they need in the House.

At midday on Wednesday, Reuters ran this update on the merger of the energy bill with the Wall Street bail-out.


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