Finance adds tax breaks for wind, NASCAR to extenders package

The Senate Finance Committee added several tax breaks into a package extending expired provision, even before the start of Thursday’s markup of the measure.

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Finance Committee Chairman Ron WydenRonald (Ron) Lee WydenSenate Dems hold floor talk-a-thon against latest ObamaCare repeal bill Overnight Defense: Senate passes 0B defense bill | 3,000 US troops heading to Afghanistan | Two more Navy officials fired over ship collisions Finance to hold hearing on ObamaCare repeal bill MORE (D-Ore.) inserted a tax credit for the wind industry, tax breaks for NASCAR track owners and film production, and a provision that allows companies to shift assets among foreign subsidiaries without paying taxes.

In all, Wyden added seven incentives to the package that he unveiled on Tuesday with the committee’s top Republican, Sen. Orrin HatchOrrin Grant HatchFinance to hold hearing on ObamaCare repeal bill Overnight Finance: CBO to release limited analysis of ObamaCare repeal bill | DOJ investigates Equifax stock sales | House weighs tougher rules for banks dealing with North Korea Week ahead in finance: Clock ticking for GOP on tax reform MORE (Utah), adding billions of dollars on to the measure’s original $67 billion price tag.

The original package didn’t revive about a dozen of the more than 50 incentives that had expired at the end of last year.

Even with Wyden’s changes to the package, the Finance panel still has dozens of amendments to sift through on Thursday, though not all will receive a vote.

Wyden, at the start of the markup, said, “this will be the last tax extenders bill the Committee takes up as long as I’m chairman.”

But adding back the tax incentive for foreign subsidiaries also drew howls from the left.

“The Senate Finance Committee squandered a unique opportunity to stand with regular taxpayers who can’t marshal armies of lawyers and lobbyists to bend the tax code to their whim,” said Dan Smith of U.S. PIRG. “Unfortunately, they caved to special interest pressure.”