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TAX EXTENDERS PASSES

The bill passed 76 to 16 with the support of Senator Durbin and includes a one-year retroactive extension of the Section 179 small business expensing option at the $500,000 level.

It also includes one-year extensions of 50 percent bonus depreciation and other key tax provisions including deductions for charitable donations of food and conservation easements, as well as production tax credits for biodiesel, cellulosic ethanol, and wind energy.

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