Senate Extends Tax Breaks Through End of Year
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Credit: Architect of the Capitol(WASHINGTON) — The Senate passed a bill on Tuesday that offers 55 temporary tax breaks for businesses and individuals, which had expired last year.
The so-called tax extenders bill enacts those tax breaks retroactively to January 1, 2014, and extends through the end of December. A larger debate about those tax breaks will likely be in store in 2015.
The Senate has been active Tuesday, confirming a pair of appointments in addition to approving the tax extenders bill. With Republicans set to take control of Congress in January, Democrats in the Senate hope to confirm 18 more nominees and pass the Terrorism Risk Insurance Act before the end of the year.
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