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octoberlib

(14,971 posts)
Tue Nov 25, 2014, 12:36 PM Nov 2014

One thing Congress can agree on — expensive business tax breaks that Obama opposes

According to the New York Times, House and Senate negotiators are close to reaching a deal on so-called "tax extenders" the terms of which are opposed by the White House.

The deal would make several corporate tax breaks permanent without offsetting the cost in any way, while failing to extend provisions of the Child Tax Credit and Earned Income Tax Credit that are favorable to low-income households.

In a statement, Treasury Secretary Jack Lew described the proposal as "fiscally irresponsible" and said "any deal on tax extenders must ensure that the economic benefits are broadly shared."

Precise terms of the deal are uncertain, but it is very unlikely the Treasury Secretary would be so vocal unless the White House believed the reports were highly credible.

http://www.vox.com/2014/11/25/7277935/tax-extenders-deal

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