Corporate Tax Bill Set for Vote Today

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Corporate Tax Bill Set for Vote Today

10/11/2004
WASHINGTON -- The Senate will vote today on a bill that will provide $136 billion in new tax breaks for businesses and other groups and $10.1 billion separately to buy out tobacco farmers' government quotas, reported the Associated Press.

Anti-tobacco senators agreed late Friday to stop delaying the corporate tax bill that includes a bailout for tobacco farmers and to pass a separate bill calling for U.S. Food & Drug Administration (FDA) regulation of tobacco, Sen. Edward Kennedy’s office said late Friday.

A group of senators had been trying to slow down a major corporate tax bill that contains the buyout for tobacco farmers who operate under a Depression-era price support system.

The Senate approved on voice vote last night a measure that would give the FDA power to regulate tobacco, sending that proposal back to the House. That proposal has little chance in the House, where Republican leaders oppose FDA regulation.

There also may be an attempt to vote today on a stand-alone overtime and FDA bill, but those will be sent over to the House for action. There is work in the Senate to slow the conference report for FDA regulation of tobacco, overtime and other issues.