House renews tax breaks for one year

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House renews tax breaks for one year

The House on Wednesday passed a one-year renewal of more than 50 tax breaks that expired at the end of 2013. Passed 378-46, the measure would extend nearly all of the tax breaks until just the end of this year, at a cost of almost $42 billion. The dissenting votes were close to evenly split between Democrats and Republicans. The list of incentives extended by the House included popular credits for both corporate America and individuals, like incentives for business research and others that help school teachers and distressed homeowners. Other incentives in the package are more controversial, particularly a tax credit prized by the wind industry. The Hill

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