May 16 (Bloomberg) – A proposal to revive lapsed tax breaks for corporate research, wind energy and teachers fell apart in the Senate, leaving their fate uncertain – perhaps until the end of the year.
The tax breaks have bipartisan support. Still, they hit a roadblock yesterday on the Senate floor amid a broader partisan feud over whether Republicans could offer amendments to the bill. Now, with the Republican-led House taking a different approach on the tax breaks, the issue may not be resolved until a lame-duck session after the November election.
Republicans, who usually champion tax cuts, scuttled the $80 billion-plus proposal that many of them support, saying their constituents' views were being stifled. A 53-40 procedural vote fell short of the 60 needed to advance the bill, with just one Republican in favor.
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