Senate Votes to Open Debate on Renewing Tax Breaks - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Senate Votes to Open Debate on Renewing Tax Breaks

Posted: Updated:
A bill to renew a package of more than 50 expired tax breaks has cleared its first hurdle in the Senate.
 
The Senate voted Tuesday to open debate on the bill, which has strong backing from the business community but would add about $85 billion to the budget deficit.
 
Almost every year, Congress routinely renews the tax breaks. This year, though, they were allowed to expire at the start of the year.
 
Among the expired tax breaks are provisions that affect millions of people, including a business tax credit for research and development and a deduction for state and local sales taxes for certain individual taxpayers. Other provisions are narrowly targeted to benefit film producers, NASCAR race track owners, makers of electric motorcycles and teachers who spend their own money to buy classroom supplies.   (AP)



  • Today's Top StoriesMore>>

  • Aces Thump River Cats to Pull Even

    Aces Thump River Cats to Pull Even

    Friday, August 29 2014 3:11 AM EDT2014-08-29 07:11:56 GMT
    The Reno Aces jumped out to a second-inning 8-0 lead and went on to a 9-4 win over the Sacramento River Cats Thursday night at Raley Field. More >>
    The Reno Aces jumped out to a second-inning 8-0 lead and went on to a 9-4 win over the Sacramento River Cats Thursday night at Raley Field. More >>
  • Reno Police Shoot Robbery Suspect

    Reno Police Shoot Robbery Suspect

    Monday, September 1 2014 2:58 AM EDT2014-09-01 06:58:19 GMT
    Multiple agencies are investigating after an armed robbery suspect was shot and killed by police in front of a Reno casino Sunday evening. More >>
    Multiple agencies are investigating after an armed robbery suspect was shot and killed by police in front of a Reno casino Sunday evening. More >>
  • Aces Win to Force Winner Take All Game on Labor Day

    Aces Win to Force Winner Take All Game on Labor Day

    Monday, September 1 2014 2:09 AM EDT2014-09-01 06:09:23 GMT
    The Reno Aces used a pair of home runs and a dominant relief performance by Bo Schultz to grab a decisive 7-3 win over the Sacramento River Cats Sunday night at Raley Field.More >>
    The Reno Aces used a pair of home runs and a dominant relief performance by Bo Schultz to grab a decisive 7-3 win over the Sacramento River Cats Sunday night at Raley Field.
    More >>
  • Most Popular StoriesMost Popular StoriesMore>>

  • Reno Police Shoot Robbery Suspect

    Reno Police Shoot Robbery Suspect

    Monday, September 1 2014 2:58 AM EDT2014-09-01 06:58:19 GMT
    Multiple agencies are investigating after an armed robbery suspect was shot and killed by police in front of a Reno casino Sunday evening. More >>
    Multiple agencies are investigating after an armed robbery suspect was shot and killed by police in front of a Reno casino Sunday evening. More >>
  • Man Stabbed Multiple Times Across from UNR

    Man Stabbed Multiple Times Across from UNR

    Saturday, August 30 2014 4:36 PM EDT2014-08-30 20:36:37 GMT
    Reno police are searching for the suspect who they say stabbed a man multiple times over fake University of Nevada football tickets.More >>
    Reno police are searching for the suspect who they say stabbed a man multiple times over fake University of Nevada football tickets.More >>
  • Fatal Rollover on Highway 50

    Fatal Rollover on Highway 50

    Saturday, August 30 2014 3:11 PM EDT2014-08-30 19:11:01 GMT
    One is left dead after a vehicle rolled over on Highway 50 at East Nye.More >>
    One is left dead after a vehicle rolled over on Highway 50 at East Nye.More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.