Island Territories Urge Congress to Extend Rum, Tuna Tax Breaks

US territories are warning taxwriters of the potential economic consequences they would incur if Congress fails to extend temporary tax perks that boost their coffers.

The temporary breaks, known as extenders, are typically packaged with must-pass legislation to move through both chambers and often have been extended retroactively. Their fate depends, though, on whether lawmakers can come together on a bipartisan tax package by the end of the year and pass an omnibus spending bill to fund the government.

More than a dozen tax extenders expired by 2022 and have yet to be revived, including a write-off for racehorse owners ...