Banks, retailers, commuters and teachers will keep their temporary tax breaks for another year after Congress gave final approval Tuesday to a massive tax package affecting millions of businesses and individuals, AP reports.
The last-minute bill would extend the expired tax breaks through the end of the year, enabling taxpayers to claim them on their 2014 tax returns. Beyond this year, their fate will once again be uncertain.
The package now goes to President Barack Obama, who is expected to sign it. It would add nearly $42 billion to the budget deficit over the next decade, according to congressional estimates.
