Congress Nears Business Tax Deal, With Offsets as Sticking Point

How to pay for legislation to restore three corporate tax breaks is among the lingering negotiating points as tax writers meet Tuesday to hammer out a bipartisan deal that also would expand the child tax credit, Senate Finance Chair Ron Wyden (D-Ore.) said.

Several tax legislators cited progress toward a deal, and Wyden aims to have an agreement in place in time for the start of the tax filing season Jan. 29. Lawmakers have been working for over a year on forging a tax deal that renews a research and development tax break, the ability to immediately write off new ...