However, it wants initial approval for the bill before March 22 when the interim law expires.

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When the law expires, those projects will shut down, taking precious jobs with them.

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If the law expires, interest rates return to their 2007 levels, rather than being reset to reflect current monetary policy.

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If the current law expires and no tax deal is reached in Washington, then capital gains rates would rise to 20% (except for investments acquired after 2001 and held for at least five years, which would qualify for a special 18% rate).

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What is least likely to happen is that the law really does survive for a decade, then expires along with everyone trying to take advantage of the last-minute estate tax break.

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