Fair
40°
Morris, IL
Fair|Forecast »

Compromise bill includes billions in special tax breaks

(MCT) — WASHINGTON — In the last-minute dealmaking to stop the nation from tumbling over the so-called fiscal cliff, Congress and the White House decided not to spare most people from a hike in Social Security payroll taxes. But they did find room for billions in special tax breaks for rum makers, racetrack owners, railroads — and Hollywood studios.

Riding along on the compromise bill were dozens of provisions that renewed existing tax breaks. All told, the business tax breaks will cost more than $63 billion next year, according to an analysis by the Joint Committee on Taxation.

Story Archived

Only the most recent 7 days of articles are available for free. For articles older than 7 days there is a small fee for retrieval from our archive. If you are a registered member of the site, the content is free just by signing in below.

Please sign in with your Comment Member ID and password.

Did you purchase access?

Member ID:
Password:
Forgot Your Password?
Register to comment.

Purchase Access
To allow for flexibility, we offer a variety of options for purchasing articles:
Purchase options


Having trouble?

If you have any technical difficulties, either with your username and password or with the payment options, please contact us by e-mail at archivedesk@shawmedia.com


Reader Poll

Were you impacted by last week's flooding?

Yes, but only inconvenienced by closed streets
Yes, water got close, but everything worked out OK
Yes, I had to evacuate my home or workplace
Yes, my house sustained extensive damage
No, I managed to avoid it all