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Proposal Would Extend Tax Breaks Through 2015

Benefits for corporate research and international finance operations are included in Senate plan.

By Richard Rubin, Bloomberg | Updated on April 01, 2014

Dozens of lapsed U.S. tax breaks, including benefits for corporate research and international finance operations, would be extended through 2015 in a plan released by Ron Wyden, chairman of the Senate Finance Committee.

Wyden scheduled an April 3 vote on his proposal, which was released today and would cost the U.S. government $67 billion over the next decade in forgone revenue. The tax breaks, which benefit companies including Citigroup Inc. and General Electric Co., expired Dec. 31.

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