Senate Passes $42 Billion Tax-Break Renewal Measure

Dozens of lapsed breaks for 2014 will be set to expire two weeks from December 17 if President Obama signs the bill

Bloomberg

The U.S. Senate passed a $42 billion package of tax incentives after a 76-16 vote. The package revives dozens of lapsed 2014 tax breaks and sets them to expire in two weeks. The House passed the measure by a 378-46 vote on December 3. The bill now awaits the President's signature.

The package includes provisions for higher capital writeoff limits for small businesses and the research tax credit for companies.

(more on the latest tax-break renewal measure...)

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