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House likely to extend tax breaks only through 2014

The move reflects Republicans calculation that a $400 billion-plus bipartisan proposal that collapsed last week probably cant be resurrected.

By Richard Rubin and James Rowley, Bloomberg | Updated on December 01, 2014

Dec. 1 (Bloomberg) — The U.S. House of Representatives will probably vote this week to revive dozens of lapsed tax breaks and extend them only through the end of this year, said two Republican congressional aides.

The move reflects Republicans’ calculation that a $400 billion-plus bipartisan proposal that collapsed last week probably can’t be resurrected. That tentative agreement would have made permanent some major business tax breaks, including the research and development tax credit and expanded capital write-offs for small businesses.

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