House moves to extend tax breaks through December
WASHINGTON, D.C. - The House is moving to extend a $45 billion package of expired tax breaks through the end of the year. The bill would enable millions of businesses and individuals to claim the tax breaks on their 2014 returns.
Beyond Dec. 31, their fate would be uncertain.
The House is expected to pass the package of more than 50 tax breaks Wednesday and send it to the Senate. Senate Democratic leaders were noncommittal about whether they would accept the bill or try to change it.
Time is short because the House plans to adjourn for the year next week.
Congress routinely extends the tax breaks every year or two. But they were allowed to expire in January.
The White House signaled Tuesday it would support a short-term package.