Some provisions:
- would make permanent 10 provisions, including an expanded research and development tax credit, which businesses and the Obama administration have wanted to make permanent for years (worth $15.6 billion per year)
- a measure allowing small businesses to deduct virtually any investment (worth $7.3 billion per year)
- the deduction for state and local sales taxes
- the American Opportunity Tax Credit for college costs (worth $9.7 billion per year)
- deductions for employer-provided mass transit
- four different breaks for corporate and charitable giving (worth $1.6 billion per year)
- Smaller measures already passed by the Senate Finance Committee, from tax breaks for car-racing tracks to benefits for racehorse owners, would be extended for one year and retroactively renewed for the current tax year
- The tax credit for wind power, a Democratic priority, would phase out and end after 2017
- tax credits for biodiesel
- tax credits for coal produced in Native American communities
- breaks for energy efficient homes and commercial buildings
I bolded the only good ones. The first one is probably a combination of good ones and bad ones. So overall yes, good move by Obama.
