Jun 12, 2014 12:21 PM by Associated Press
WASHINGTON (AP) - The House has voted to make permanent a generous tax break that makes buying new equipment and improving property easier for small businesses.
The tax break would allow business owners to write off such investments more quickly. It expired at the beginning of the year, along with more than 50 other temporary tax breaks Congress routinely extends.
House Republicans say the bill is part of a broader effort to add more certainty to the tax code.
Democratic leaders opposed the bill because it would add $73 billion to the budget deficit over the next decade. White House has threatened a veto, but the Senate is unlikely to take up the bill.
The fate of all the expired tax breaks is unlikely to be resolved until after congressional elections in November.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
2 days ago
Do you have a tip, information about a breaking news story, or a story idea for 6 Investigates? Contact the KRIS 6 News Desk at 361-884-6666 or send us an email.
Send us your feedback. We want to hear from you!
Look at photos and videos and share them!
|KRISTV.COM Mobile Website
Get KRISTV.com on your mobile or PDA!
|KRISTV.COM Mobile Apps
Get our mobile apps on your mobile or PDA!
See the latest winning numbers!
|6 News Team
Read about your favorite KRIS-TV personalities!
|FCC Online Public File
FCC Public File of Records, Reports, and more