GOP Pushes Tax Cuts & Trade Bill Through Congress in Final

In its last hours of GOP control, Congress passed a raft of bills big and small, most significantly a sweeping bill reviving expired tax breaks, extending trade benefits for developing countries and protecting doctors from a big cut in Medicare payments.

The sweeping votes reflected widespread bipartisan support for extending expired tax breaks, including the research and development tax credit for businesses, sales tax deductions for people in states without income taxes, the tax deduction on college tuition, a tax credit for hiring welfare recipients and others facing difficulties finding jobs and tax credits for alternative energy producers and purchases of solar energy equipment by homeowners and businesses. Read More