The U.S. House Ways and Means Committee approved $310 billion oftax breaks as Republicans defeated Democratic objections to theplan's budgetary costs.
The tax breaks, many of which benefit companies such as IntelCorp. and General Electric Co., have bipartisan support. How andwhether to offset their cost remains an area of dispute, whichprompted some Democrats to vote against bills they cosponsoredearlier this month.
The Republicans' proposal would make the tax benefits permanent,ending the lapse-and-revive cycle that has persisted for years. Thesix breaks whose extension was approved today and dozens of othersexpired Dec. 31. The move separates some of the breaks fromRepublicans' broader goal of revamping the U.S. tax code.
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