Business Tax Breaks’ Time for Renewal Is Running Out, Wyden Says

The Senate needs to pass the $78 billion tax package this year or it risks being unable to fully revive the business tax breaks in the measure, Senate Finance Committee Chair Ron Wyden (D-Ore.) said Tuesday, in the latest scuffle over the future of the bill.

The package—which would retroactively renew a trio of tax breaks for research and development, interest, and capital expenses— overwhelmingly passed the House in January, but has been stuck in the Senate as Republicans demand changes to another portion of the bill that would expand the child tax credit. At a Finance Committee hearing on ...