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• May 21, 2008 12:00 pm US/Central
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  House Passes $54B In Tax Breaks, Energy Incentives

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House Passes $54B In Tax Breaks, Energy Incentives

WASHINGTON (AP) ― The House has passed a $54 billion tax package that provides breaks for millions of people and businesses and incentives for development of renewable energy.

The bill expands a child tax credit for lower income families and creates a new deduction for homeowners. It renews a popular research and development tax credit and a credit for the out-of-pocket expenses of teachers.

The White House is threatening to veto the bill. It objects to new tax revenues to pay for the measure.

(© 2008 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)