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Business Tax Breaks Advance

House Ways and Means approves $310 billion of tax benefits after squabble.

By Richard Rubin, Bloomberg | Updated on April 29, 2014

The U.S. House Ways and Means Committee approved $310 billion of tax breaks as Republicans defeated Democratic objections to the plan’s budgetary costs.

The tax breaks, many of which benefit companies such as Intel Corp. and General Electric Co., have bipartisan support. How and whether to offset their cost remains an area of dispute, which prompted some Democrats to vote against bills they cosponsored earlier this month.

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