The Senate Finance Committee meets to consider legislation dealing with a number of short-term tax breaks known as tax extenders.
The legislation includes an extension for the research and development tax credit, deals with the Alternative Minimum Tax and reportedly ends breaks for expensing and traditional ethanol among others.
The Ways and Means Committee in the House is also working on changes to the tax code. Compromise legislation is not expected to be finalized until after the election. Sen. Max Baucus (D-MT) chairs the committee.