House Passes Corporate Tax-Break Legislation
The House passed the most sweeping rewrite of corporate tax law in nearly two decades, a measure designed to end a nasty trade war with Europe and shower nearly $140 billion in new tax breaks on businesses, farmers and other groups.
The measure was approved on a 280-141 vote, sending it to the Senate, where it was expected to be approved today.
Supporters argued that the centerpiece of the legislation -- tax relief for American factories -- was critically needed to aid manufacturers who have lost 2.7 million jobs over the last four years.
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