House Panel Votes to Make $412B in Tax Breaks Permanent

WASHINGTON (AP) -

House Republicans are advancing legislation to make permanent a series of five temporary tax breaks for restaurants, multinational corporations and other businesses.

The bills would add a total of $412 billion to the budget deficit over the next decade. Democrats opposed the bills, complaining that Republicans are willing to rack up debt to pay for tax cuts, but not to pay for important programs.

Republicans counter that the tax breaks, which expired in January, are longstanding provisions routinely renewed every year or two — with bipartisan support. They say making them permanent would add certainty to the tax code while being honest about the long-term cost.

The House Ways and Means Committee voted along party lines to approve the bills Thursday, with Republicans in favor and Democrats opposed.