Worthy Christian News > U.S. Politics > House GOP clears $287 Billion Tax Break for Business, but will it clear the Senate?

House GOP clears $287 Billion Tax Break for Business, but will it clear the Senate?

Thursday, May 29, 2014 | Tag Cloud | Learn about our FREE SYNDICATION Service | Start your day with the Worthy Brief! | Printer Friendly

House GOP tax writers pushed through a $287 billion tax break for business write-offs on Thursday, beating back Democratic protests that the extension was both fiscally reckless and pointless.

The House Ways and Means Committee cleared a permanent extension of the tax break, known as bonus depreciation, along with five other provisions related to charitable giving.

Ways and Means Committee Chairman Dave Camp (R-Mich.) said the measure’s built on his approach of extending important tax preferences for the long term, and would give an “incremental” boost to his broader goal of tax reform.

Democrats on the Ways and Means panel predicted Thursday that the Senate would have no interest in the House’s permanent extensions and said the proposals illustrated how little traction Camp’s tax reform draft from February has received.
Start your day with Christian news and biblical encouragement from Worthy News.

“We’re going through the motions here,” said Rep. Sandy Levin (Mich.), the committee’s top Democrat.

Source

people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Latest Worthy News

Trump Secretly Switched Planes Amid Iranian Assassination Threat

Swiss Government Rejects Push To Enshrine Strict Neutrality In Constitution

Indonesian, Pakistanis Among Six Killed In Houthi Ship Attack

Russian Strikes Kill 12 In Ukraine As Kyiv Reports North Korean Missiles

Former Jehovah’s Witness Turned Christian Publisher Wim de Goeij Dies At 64

Hungary Elects András Baka President As He Warns Against Revenge

Massachusetts Governor Signs Law Removing Specific Limits on Abortions After 24 Weeks

U.S. Golden Dome Missile Shield Passes Major Tests, but Funding Battle Threatens 2028 Deployment

Taliban Bars 2.4 Million Afghan Girls From School, Erasing Decades of Progress

Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.