[Congressional Record (Bound Edition), Volume 156 (2010), Part 12]
[Senate]
[Page 17247]
[From the U.S. Government Publishing Office, www.gpo.gov]




                  EDUCATION JOBS AND MEDICAID FUNDING

  Mr. BAUCUS. Mr. President, I want colleagues and those who read the 
Record to know that the nonpartisan Joint Committee on Taxation has 
made available to the public the document entitled ``Technical 
Explanation of the Revenue Provisions of the Senate Amendment to the 
House Amendment to the Senate Amendment to H.R. 1586, Scheduled for 
Consideration by the House of Representatives on August 10, 2010.'' 
This document is an explanation of the education jobs and Medicaid 
funding bill that the Senate passed last month. This explanation 
reflects the intentions of the Senate and its understanding of the 
legislative text. It is available on the Joint Committee's Web site at 
http://www.jct.gov/publications.html?func=startdown&id=3702 and is 
listed as document number JCX-46-10.
  In addition, I would like to comment on the Secretary's grant of 
authority to issue regulations in section 211 of the legislation, which 
adds new section 909 to the Internal Revenue Code of 1986. I note that 
this grant of authority allows the Secretary to provide exceptions, as 
appropriate, from the application of the provision to certain foreign 
tax credit splitting events resulting from foreign consolidation 
regimes, group relief, or similar loss-sharing arrangements.

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