Senate leaders Wednesday unveiled a reworked $22 billion tax package as part of a comprehensive energy bill that they say will pass this week.

However, the tax provision still banks on at least $12.7 billion in offsets from rolling back tax breaks on the oil and gas industry, a strategy that has prompted a White House veto threat because it targets a specific industry.

Majority Leader Harry Reid , D-Nev., is expected to seek to limit debate on the bill, setting up a Thursday vote.

“If America’s really going to make a change in terms of energy policy, encouraging new energy strategies in the tax code must be part and parcel of that effort,” said Senate Finance Committee Chairman Max Baucus , D-Mont., in a statement.

The details of the proposal were released jointly by Baucus and ranking Republican Charles E. Grassley of Iowa, who voted last week against debating the House-passed version of the bill because of the tax package.

But his concerns were assuaged by a two-year extension of the tax credit for facilities that produce renewable energy, along with the removal of a 35-percent cap on costs eligible for the credit. The compromise also eliminated a requirement that workers on tax-subsidized projects receive prevailing wages under the Davis-Bacon law.

As expected, the Senate revision removed a section of the House-passed bill that would have required 15 percent of electricity from investor-owned utilities to come from renewable sources by 2020.

The key provisions of the legislation remain in the amended bill being circulated. Those would increase corporate average fuel economy standards for cars and light trucks from a combined 25 miles per gallon currently to 35 miles per gallon by 2020, and would require 36 billion gallons of ethanol and other biofuels to be blended into gasoline annually by 2022.