GOP Blocks Quick Passage Of Tax Credit Extender Bill

Law360, New York (December 19, 2013, 3:25 PM EST) -- Republican senators on Thursday blocked the expedited passage of a bill that would renew 55 tax breaks for businesses, health care and the renewable-energy industry, all set to expire at the end of the month.

The Tax Extenders Act of 2013, proposed Wednesday, cannot become law before the credits expire Dec. 31 because the U.S. House of Representatives is already on its holiday recess, but Congress can retroactively apply the renewal of tax credits to the beginning of the new year.

The bill includes extensions to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.