House votes to renew 'tax extender' breaks
 

House votes to renew 'tax extender' breaks

The House voted overwhelmingly on Wednesday to renew more than 50 expired tax breaks for individuals and businesses through the end of this year, with the Senate looking increasingly likely to follow suit.

The one-year retroactive renewal, which passed by a 378-46 vote, includes heavily lobbied business breaks like those for corporate research, wind production, renewable fuels, corporate expensing and expanded depreciation schedules. It also includes tax breaks for individuals including a deduction for mortgage debt forgiveness, a break for state and local sales taxes paid as well as breaks for teachers and commuters. Read more on Politico.