Business Tax Breaks Face ‘Now or Never’ Moment

“U.S. businesses, big and small, have united behind a bipartisan bill to revive expired tax breaks for research and equipment spending, help that many see as critical to competing with foreign rivals or even surviving,” the Wall Street Journal reports.

“The problem: They can’t get Senate Republicans—usually their allies—to budge.”

“The House passed the measure 357-70 in January, but GOP lawmakers have stalled the bill in the Senate. Aside from business provisions, the measure would expand the child tax credit and curtail the fraud-ridden employee retention tax credit. Senate Republicans’ complaints include the details of child-credit changes, their inability to amend the bill and the prospect of a better deal next year if Republicans win the Senate majority in November’s election.”