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Bid to revive tax cuts halted in Senate

A proposal to revive lapsed tax breaks for corporate research, wind energy and teachers fell apart in the Senate, leaving their fate uncertain perhaps until the end of the year.

By Richard Rubin | Updated on May 16, 2014
Sen. Charles Grassley, R-Iowa. (AP Photo/J. Scott Applewhite, File)

May 16 (Bloomberg) – A proposal to revive lapsed tax breaks for corporate research, wind energy and teachers fell apart in the Senate, leaving their fate uncertain – perhaps until the end of the year.

The tax breaks have bipartisan support. Still, they hit a roadblock yesterday on the Senate floor amid a broader partisan feud over whether Republicans could offer amendments to the bill. Now, with the Republican-led House taking a different approach on the tax breaks, the issue may not be resolved until a lame-duck session after the November election.

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