WASHINGTON - The Senate Finance Committee is not likely to draft its version of the urban aid tax package until the end of July, a delay that makes some tax aides doubt Congress will complete action on that bill and on extensions of two popular bond programs before the fall.

Originally, Committee Chairman Lloyd Bentsen, D-Tex., said the panel would meet next week, immediately after returning from the Senate recess that began July 3. But a committee spokesman said yesterday that Sen. Bentsen will need more time to draft his urban aid proposal and will probably not bring the panel together until the week of July 27.

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