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July 14, 2014

House OKs permanent tax break for businesses

WASHINGTON (AP) — The House voted Friday to make permanent a temporary tax break that makes it easier for businesses to invest in new equipment, one of many expired tax breaks that Congress must deal with by the end of the year.

The tax break allows businesses to more quickly write off the costs of new equipment, making it popular among business groups. But the White House has threatened a veto because the bill would add $287 billion to the budget deficit over the next decade.


 
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