NASCAR, Olympic Medals, Film, TV: Give us a Tax Break

Photograph by Chris Graythen/Getty Images

Kurt Busch, driver of the #41 Haas Automation Chevrolet, celebrates after winning the NASCAR Sprint Cup Series STP 500 at Martinsville Speedway on March 30, 2014 in Virginia.

Democrat Mark Warner backs a NASCAR tax break.

Republican Johnny Isakson supports one for film and television productions. And Democrat Thomas Carper backs a provision that aids U.S. multinational companies’ offshore operations.

Those are among the key takeaways from the release of amendments in advance of tomorrow’s Senate Finance Committee markup on reviving tax breaks that lapsed Dec. 31.

All three of those provisions weren’t included for extension in the proposal released yesterday by Finance Chairman Ron Wyden, an Oregon Democrat. And all three will rely on bipartisan coalitions trying to get them included in the bill that passes the committee.

In all, committee members filed 93 amendments, not all of which will be ruled germane or get a vote.

Warner, of Virginia, is joining three other senators who represent states with major motorsports tracks to back accelerated depreciation: Democrat Debbie Stabenow of Michigan, Republican Richard Burr of North Carolina and Democrat Bill Nelson of Florida.

Isakson, a Georgian, is joining four Democrats to support expensing for film and TV productions: Stabenow, Nelson, Charles Schumer of New York and Ben Cardin of Maryland, whose home state has been debating its own tax breaks for the Netflix show “House of Cards.”

Carper, of Delaware, is joining six Republicans to support extending a “look-through” provision that makes it easier for multinationals to transfer money between foreign subsidiaries.

Other bipartisan proposals would extend the production tax credit for wind, continue a health care tax credit for workers displaced by foreign competition and exclude Olympic medals and awards from taxes.

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