Prized Business Interest Tax Break Revived in House and Senate

Companies facing higher incremental tax obligations would get relief under new legislation that would reinstate a prized interest expense break.

The draft legislation would revive a key business incentive that Republicans’ 2017 tax law modified and temporarily made more generous. The business lobby has long pursued including the break in legislation averting a tax cliff this year.

“This legislation would reinstate a needed measure to encourage industrial growth, increase jobs and wages at all levels, and contribute to America’s economy,” the bill’s sponsor, Sen. Shelly Moore Capito (R-W.Va.), said in a statement.

She previously ...