NEW YORK (CNNMoney.com) - Having the option to deduct your state and local sales taxes or college tuition ... being able to get money back for retirement contributions ... giving teachers a break for spending their own paycheck on classroom supplies.

These were all provisions many lawmakers had hoped would be included in the $70 billion tax reconciliation bill that President Bush signed into law Wednesday.

But they were taken out of the bill to keep the final cost under $70 billion, much of which was taken up by the combination of extending the reduced rates on capital gains and dividends and to a lesser extent, providing one year of AMT relief. (Read more about how those measures will affect your wallet.)

The provisions that were removed, however, may still see the light of day if a much discussed "trailer" bill of tax breaks is passed, which many lawmakers predict will happen.

On Tuesday, Senate Finance Committee Chairman Charles Grassley (R-Iowa) said such a bill could be attached to pension reform legislation that is currently in the final stages of negotiations, barring opposition from pension conferees, according to Tax Notes, a publication of Tax Analysts.

House Majority Leader and pension conference committee member John Boehner (R-Ohio) said he would support inclusion of the trailer tax provisions in the pension bill, which itself includes measures to boost 401(k) participation, contributions and portability.

The contents of the trailer tax bill are still being negotiated among the chief tax writers in the House and Senate, but the measures under discussion include:

This provision was in effect for 2004 and 2005. The extension would give taxpayers the option on their federal return of deducting either what they paid in state and local income tax or what they paid in state and local sales taxes, whichever is higher.

This provision has been of greatest advantage to taxpayers who live in the handful of states that don't impose an income tax and to those who live in states with high sales taxes and relatively low income taxes.

There are nine states without personal income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.

This provision was in effect from 2002 through 2005. The House had passed a bill calling for a one-year extension, while the Senate had passed a bill had calling for an extension through 2009.

It is an above-the-line deduction for qualified higher education expenses, meaning it can be taken even if you don't itemize deductions on your federal return.

The deduction may be taken on a maximum of $4,000 in tuition and fees for taxpayers with adjusted gross income (AGI) of $65,000 or less ($130,000 for married couples) or $2,000 for taxpayers with AGIs of $80,000 or less ($160,000 for married couples).

The tuition deduction may not be taken for expenses for which you are claiming an education credit (e.g., the HOPE or lifetime learning credits). You must choose one or the other if you qualify for both.

Through 2006, low-income taxpayers may receive a credit (a dollar-for-dollar reduction of the taxes they owe) for up to $2,000 in contributions they make to qualified retirement savings plans, such as 401(k)s, 403(b)s as well as traditional and Roth IRAs.

The House had passed a bill calling for an extension through 2008, while the Senate bill had called for an extension through 2009.

The credit is available only to those taxpayers with AGIs of $25,000 or less ($50,000 or less for married couples).

The provision, which expired in 2005, allows teachers to continue to deduct their out-of-pocket costs -- up to $250 -- for buying classroom supplies. As with the tuition break, it can be taken even if you don't itemize deductions on your federal return.

The original tax bill passed by the Senate had called for, among other things, an allowance for all taxpayers -- not just the minority who itemize -- to take a deduction for cash donations of at least $210 for single filers and $420 for joint filers. This is one of the charitable tax breaks under consideration for the trailer bill.

The tax bill President Bush signed into law on Wednesday included relief from the alternative minimum tax for 2006. In the past month, there had been talk that a second bill might extend that relief through 2007. But such talk has quieted down, so some observers believe the additional year of AMT relief is off the table. (Read more about the AMT relief in place for 2006.)