–House Speaker: ‘Waiting’ For Senate to Clear Tax Extenders Bill
–Still Would Like to Pass War Spending Bill by July 4
–Eager For Final Financial Regulatory Reform Bill

By John Shaw

WASHINGTON (MNI) – House Speaker Nancy Pelosi said Thursday the
House is eager for the Senate to pass its version of a tax extenders and
benefit expansion bill, so the House can take final action soon on the
measure.

“We are waiting to hear back from the Senate on that,” Pelosi said
at a briefing.

The House passed a $113 billion package several weeks ago and the
Senate has revised the package several times.

Senate Majority Leader Harry Reid said he is trying to get the
Senate to clear its new $118 billion tax cut and benefit expansion bill
this week.

The House could adopt the Senate’s latest version of the bill or
revise it once again.

The underlying Senate bill would extend about a dozen tax cuts that
expired at the end of last year, expand unemployment benefits, offer
assistance to states for Medicaid programs and provide an extension of
current Medicare payments for doctors, the so-called “doc fix,” through
Nov. 30, 2010.

On another matter, Pelosi said the House will soon take up a war
spending bill that includes funds for the wars in Iraq and Afghanistan
and a host of domestic emergencies.

The Senate approved several weeks ago a $59 billion supplemental
spending bill, with funds for the wars, the Gulf of Mexico oil spill,
relief assistance for Haiti and FEMA to replenish its funds to deal with
natural disasters.

Some House Democrats want to add about $23 billion so states will
be able to avoid large scale teacher layoffs.

“We’re working on it,” she said of the emergency spending bill,
adding that the House was “on track” to pass it before the Fourth of
July recess. She said Democrats want to offset some of the cost of the
emergency bill.

Finally, Pelosi said she is eager for the House-Senate conference
panel to draft a final financial regulatory bill in the coming weeks.

The measure, she said, must “end the recklessness on Wall Street.”

** Market News International Washington Bureau: (202) 371-2121 **

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