R&D, Corporate Tax Breaks Not in Omnibus Spending Draft (1)

A slate of expired and expiring tax provisions are not included in a draft year-end spending package after lawmakers failed to come to an agreement on expanding the child tax credit and some key business tax breaks, according to a source familiar with the text.

Tax breaks favored by industry, including one for research and development, and more favorable tax rules for interest expenses and capital expenditures, were not included in the omnibus spending bill to be released by a bipartisan group of lawmakers Monday.

Another 28 temporary tax benefits that have already expired or will at year end, known ...