Here Come the Amendments

As Senate Majority Leader Harry Reid (D-Nev.) announced last night, the Senate this afternoon will consider seven amendments before voting on a proposed $2 billion extension for the popular cash for clunkers program, which has nearly exhausted its initial $1 billion funding.

The amendments are:

1) Sen. Tom Harkin (D-Iowa): To limit the provision of vouchers to individuals with adjusted gross incomes of less than $50,000 or joint filers with adjusted gross incomes of less than $75,000.

2) Sen. Jon Kyl (R-Ariz.): In the nature of a substitute.

3) Sen. Judd Gregg (R-N.H.): To protect generations of tomorrow from paying for new cars today.

4) Sen. David Vitter (R-La.): To provide for a date certain for termination of the Troubled Asset Relief Program.

5) Sen. Tom Coburn (R-Okla.): To provide assistance to charities and families in need.

6) Sen. John Thune (R-S.D.): To prohibit the Federal Government from holding ownership interests, and for other purposes

7) Sen. Johnny Isakson (R-Ga.): To amend the Internal Revenue Code of 1986 to provide an income tax credit for certain home purchases, and to transfer to the Treasury unobligated funds made available by the American Recovery and Reinvestment Act in the amount of the reduction in revenue resulting from such credit.

Of course, most supporters of the underlying cash for clunkers extension, including President Obama, want to pass a clean bill without any amendments attached, because any changes to the bill would require agreement from the House, which is on a five-week vacation.

As a Reid spokesperson said yesterday, “Obviously, we don’t want them to pass because then the bill doesn’t go anywhere.”

Expect the clean bill within a few hours.