tax breaks

The incoming chairman of the Senate Judiciary Committee says the Senate ought to take the same approach to immigration reform as the House - do it one piece at a time rather than assemble a comprehensive bill. "A provision dealing with just agriculture would pass Congress easily," Iowa Sen Chuck Grassley told reporters but action on popular items is stalled by advocates of a full-spectrum approach.

Some 525 trade and business groups, including farm groups, urged Congress to revive four dozen tax breaks that expired on Jan 1, the so-called "tax extenders" package. In a letter, the groups said the tax incentives should be restored as soon as possible. "We urge all members of Congress to work together to extend seamlessly, enhance, or make permanent these important tax provisions this year to provide a necessary bridge to comprehensive tax reform," said the groups.

A "top priority" for action in the post-election session of Congress is reauthorization of tax incentives that expired on Jan 1, said Iowa Sen Chuck Grassley.

Congress is fairly likely during its post-election session to revive a package of tax incentives that expired on Jan 1, said the leaders of the two largest U.S. farm groups. The package includes the $1 a gallon tax credit for biodiesel, tax credits for wind and solar power, and generous write-offs for purchases of equipment and other assets. Bob Stallman, president of the American Farm Bureau Federation, told reporters the so-called tax extenders package was...