GOP Tax Wish List Renews Business Breaks, Nixes Energy Taxes (1)

House Republicans released a suite of bills Friday, including business tax breaks and the repeal of some pieces of the Democrats’ tax-and-climate bill, an opening bid for potential bipartisan legislation later this year.

Tax incentives that expired last year—a research and development tax break, full bonus depreciation, and the interest expense deductions under tax code Section 163(j)—would be revived under the package of legislation. The bills also would expand opportunity zones, repeal the so-called Superfund Tax on crude oil and an electric vehicle tax credit from the Inflation Reduction Act, as well as boost the individual standard deduction.

Some ...