More Tax Breaks for Business Coming Soon

One year after passage of an economic stimulus bill, Congress is planning to give the economy another boost with more tax cuts.

Get ready for another round of tax cuts to boost the economy. Although Congress passed an economic stimulus bill a year ago, Democrats nervous about the November elections now want to try another tax-fueled jolt to help get the jobs market humming.

Senate tax writers are leading the charge. They’ve proposed a package of tax breaks that has bipartisan support and is already starting to move through the chamber, albeit piecemeal. All of the key elements have enough bipartisan backing to suggest they will pass at some point this year.

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Senior Tax Editor, the Kiplinger letters