Stalled Business Tax Break Bill Set for Senate Vote This Week

Senate Majority Leader Chuck Schumer Monday teed up a Senate test vote on the long-stalled $78 billion business tax break bill, readying it for floor action later this week.

The bill, brokered by Senate Finance Chair Ron Wyden (D-Ore.) and House Ways and Means Committee Chair Jason Smith (R-Mo.), contains breaks for research and development, interest, and capital expensing.

Up to now, it hasn’t seemed likely to clear the test vote’s 60-vote threshold due to a wall of Senate GOP resistance, led by the Finance panel’s top Republican, Sen. Mike Crapo of Idaho.

Voting the legislation down before the August ...