House Republicans May Split Up Package of Expired Tax Breaks
During the hearing, Tiberi said lawmakers and backers of the production tax credit for wind energy agree that the break should be phased out over several years.
The credit, worth 2.2 cents per kilowatt hour, is scheduled to expire at the end of 2012.
"We had a lot of consensus from not just members but supporters on this issue of phasing out the tax credit," Tiberi said.
June 9, 2012
in Money News
Republicans in the U.S. House of Representatives are considering splitting up a package of miscellaneous tax breaks, potentially making it tougher for items with less support to survive alongside more popular provisions.
Tax breaks with broad bipartisan support could be pulled from a group of dozens of items and be passed in smaller groups, said Representative Charles Boustany, a Louisiana Republican on the Ways and Means Committee.
"I think it's very smart to break it up," he said.
House Republicans have been examining the so-called tax extenders, which include breaks for corporate research, investments in low-income communities and renewable energy.
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