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.
The Republicans' proposal would make the tax benefits permanent, ending the lapse-and-revive cycle that has persisted for years. The six breaks whose extension was approved today and dozens of others expired Dec. 31. The move separates some of the breaks from Republicans' broader goal of revamping the U.S. tax code.
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