Senate Rejects Tax Bill
The Senate has decided not to consider the Tax Relief for American Families and Workers Act. The legislation would have retroactively restored the 100% bonus depreciation tax credit, and extended the research and development tax credit that expired in 2022 and provided more favorable interest deductibility provisions. Tax will be a big issue in 2025 as more of the provisions of the Tax Cuts and Jobs Act expire.
Read more: Tax Bill Fails To Pass Senate Hurdle →