Corporate Tax Breaks Included In Fiscal Cliff Deal Thanks To White House Urging


“In the end, the bill approved by Congress and signed into  law by President Barack Obama included all of those things,  thanks partly to the White House’s interest in promoting wind  and other alternative sources of energy, and in subsidizing  research and development costs for companies.

It also became a lesson in how Washington’s taste for  dishing out favors to special interests is alive and well,  despite bipartisan calls for the government to reduce the tax  credits it gives businesses and individuals at a time when the  nation’s debt tops $16 trillion and is growing.

Some business lobbyists told Reuters they were surprised  that the package of tax credits – which had been approved by the  Democrat-led Senate Finance Committee in August – survived the  negotiations over the tax bill. The main part of the bill  extended Bush-era income tax cuts for individuals with incomes  of less than $400,000 and couples who make less than $450,000.”


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