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 | Receive Worthy News in your inbox! | 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

U.S. Sending Fresh Aircraft Carrier to Middle East

Mecca Defense Pact Signals New Muslim Military Alliance Beyond U.S. and Israel

U.S. Credit Card Debt Surges to $1.26 Trillion as Americans Lean Heavier on Borrowing

Israel Unveils Next Generation of Low-Cost Autonomous Attack Drones

U.S. Pushes Back on Israel’s Plans for Long-Term Military Presence in Southern Lebanon

Rare Solar Eclipse Ushers In Elul as Heavens Mark Biblical Season of Repentance

State Department Launches Crackdown on ‘Birth Tourism,’ Revokes More Than 600 Visas

Trump Secretly Switched Planes Amid Iranian Assassination Threat

Swiss Government Rejects Push To Enshrine Strict Neutrality In Constitution

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.