Prospects for extended tax breaks for 2012 not very good
The main sticking point for the payroll-tax extension passed at the end of 2011 was how to offset its cost. "If you can't agree on the pay-fors on the most important, must-pass kind of things, how do you come up with pay-fors for everything else?"
January 6, 2012
by Pam Hunter
in Engineering News-Record
When Congress begins its new session in earnest later in January, construction industry officials and renewable-energy advocates want to see legislators extend key tax breaks that were allowed to expire on Dec. 31. Among them are the production tax credit (PTC) for solar, wind and other renewable-power sources. But some observers are pessimistic about prospects for such extensions any time soon.
The House and Senate are slated to take up a further continuation of one break-the payroll-tax cut, which on Dec. 23 was extended through February. Some congressional leaders say they are ready to work on a long-term fix for the... [continue via Web link]