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

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.

Stay watchful. Stay prayerful. Subscribe to the Worthy Brief by email.

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

Source

Lift this up in Prayer

19

people are currently praying.

Latest Worthy News

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.

Books by George Whitten

Identity in Messiah Revealed https://identityinmessiah.com

A devotional journey calling believers out of self-doubt and into confident, Kingdom-rooted identity in the Messiah.

Buy on Amazon

The Biblical Fall Feasts Revealed https://biblicalfallfeasts.com

An in-depth look at the Biblical fall feasts and their prophetic significance for believers today.

Buy on Amazon

As an Amazon Associate I earn from qualifying purchases.