The companies did not waste anytime trying to make sure that their tax cuts and such stay in place.  Tax cuts help the bottom line and that is what is most important….gotta keep the investors in cash.

Hundreds of companies signed on to a statement calling for the U.S. Senate to renew tax provisions expiring at the end of the year, citing a potential negative impact on the U.S. economy if Congress doesn’t approve an extension measure.

The Senate on Tuesday swatted down a bill introduced by Senate Finance Chairman Max Baucus, D-Mont., to extend expiring tax cuts and provide incentives for renewable energy. The Senate voted 50-44 on a procedural motion on the bill, falling 10 votes shy of the necessary votes to move forward to debate the tax package.

“Failure to act this summer on tax extender legislation will have significant negative consequences for the U.S. economy,” the letter said. “The value of the legislation to the U.S. economy and the need to act quickly at this critical time should be the dominant considerations.”

Most of the opposition to the bill in the Senate came from Republicans, who argued that the tax extension shouldn’t have to be offset with tax increases. Baucus said Tuesday that he hopes to negotiate an agreement with Republicans on the tax extensions in “a week, (or) a week and a half.”

The Senate bill, largely similar to legislation passed by the House in May, renews for one year expiring business tax cuts such as the research tax credit, quicker depreciation for restaurant properties, and a tax break for overseas financing income.

It would extend production tax credits for wind energy by one year, and for energy generated by biomass, hydropower and geothermal energy by three years. It would extend the solar energy investment tax credit for eight years.