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Rating:Commodities Provision Fails to Survive in Senate Bill Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 10, 2010

Commodities Provision Fails to Survive in Senate Bill

News summary by MFWire's editors

The provision that would have made it easier for fundsters to make investments in commodities did not make it to the version of the bill that the Senate approved on Wednesday, Bloomberg reports. The legislation that passed the Senate would make revisions to tax rules governing mutual funds.

The wire service service reports that Sen. Jeff Bingaman (D-NM) amended the initial version of the bill to take out the commodities provision.

"There were some senators who expressed concerns about making such changes before a study had been done," Bingaman’s spokeswoman Jude McCartin was quoted in the article as saying. The amendment “creates an opportunity for people to examine how the change might affect” mutual funds, McCartin said, adding that three senators, whom she declined to identify, had reservations about the commodities portion of the bill."  

Edited by: Armie Margaret Lee

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