House Passes $42 Billion Plan to Revive Tax Breaks for 2014

The House of Representatives voted to revive dozens of lapsed U.S. tax breaks for this year and set them to expire again on Dec. 31. The 378-46 vote today would provide $42 billion in temporary relief to taxpayers, including companies that rely on the research tax credit and the production tax credit for wind energy. It provides no certainty for 2015, though lawmakers said the one-year extension was the best available option after a broader deal collapsed.

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