The House Ways & Means Committee yesterday cleared a bill with less than $2 billion in business tax breaks, as part of a plan to resolve differences in the House and Senate minimum wage bills.
While I noted earlier that the House is passing the tax bill separately from its wage bill — keeping the wage bill “clean” — the plan is to forge a compromise “dirty” bill in a House-Senate conference.
How dirty is the House bill? The picture is mixed.
On one hand, the size of tax giveaways in the House bill is smaller than the $8.3 billion Senate version. On the other, according to CongressDaily and CQ Today, the business lobby is happier with the House version in part because it leaves out a Senate provision closing a tax loophole for executives earning over $1 million a year.