Similar Stories to Congress Returns To Looming Deadlines On Budget, Highways on Bing News

By ANDREW TAYLOR, Associated Press, San Francisco Chronicle: Politics
Mon, 11/30/2015 - 2:13am

WASHINGTON (AP) — Lawmakers are returning to Capitol Hill to wrap up work on the budget, highway funding and taxes, an end-of-the-year stretch that will test the standing of Republican leaders like House Speaker Paul Ryan with the GOP's tea party wing and its anti-establishment presidential candidates. If past is prologue, he's sure to use debate on the omnibus measure to burnish his reputation for attacking Capitol Hill GOP leaders and build opposition to the catchall spending compromise among Republican voters. House-Senate negotiations on a long-term measure funding highway and transit programs seem likely to finally produce results, helped in large part by a new "offset" to help pay for the measure that involves a money shuffle from the Federal Reserve to the Treasury. Among the biggest breaks for businesses are a tax credit for research and development; an exemption that allows financial companies such as banks and investment firms to shield foreign profits from being taxed by the U.S.; and several provisions that allow businesses to write off capital investments more quickly. [...] with Obama in Paris for a U.N.

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