Rocky meeting for Finance/lobbyists on extenders

A meeting between Senate Finance Committee staffers and business lobbyists on the so-called tax extenders bill apparently did not go well, according to several sources. 

Lobbyists were divided over what they were willing to give up: tax increases on foreign income or not extending tax breaks like the research and development credit. 

Staffers tried to sway their support for the bill by postponing the effective dates on some of the tax increases. The suggestion was not well received by lobbyists. 

It was also suggested that the bill should be put aside until differences between the two groups could be worked out. 

Despite the meeting not going well, Senate Finance Chairman Max Baucus (D-Mont.) is still expected to unveil a third iteration of the extenders bill later on Wednesday. 

It is expected to include a "doc fix," which refers to delaying a Medicare payment cut to physicians, with modifications to its pension relief offset to accommodate multi-employers. The Senate passed a similar measure on Friday.

The legislation is also expected to scale back an extension to Federal Medical Assistance Percentages (FMAP), from $24 billion to roughly $14 billion, which will likely be at least partially offset with unused stimulus funds.  

The bill is also expected to include technical corrections that will add approximately $2 billion in offsets. 

Several sources told The Hill that this bill could be the last shot Senate Majority Leader Harry Reid (D-Nev.) will have to pass extenders.