• Home
  • News
  • Fortune 500
  • Tech
  • Finance
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
LeadershipCongress

U.S. House Approves Tax Measure As Spending Bill Looms

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
December 17, 2015, 1:35 PM ET
Capitol Hill
Capitol HillPhotograph by Alex Wong — Getty Images

By David Lawder

WASHINGTON, Dec 17 (Reuters) – The U.S. House of Representatives on Thursday passed a massive tax bill that makes permanent and enhances tax credits to aid business research and development, the working poor, children and other temporary tax breaks as lawmakers moved to avoid a government shutdown.

The measure, passed by a vote of 318-109 in the Republican-led House with some support from Democrats, is expected to increase U.S. deficits by $622 billion over 10 years.

Another $58 billion in tax breaks are part of a $1.1 trillion spending bill that funds federal government agencies through Sept. 30, 2016, and lifts a four-decade-old ban on U.S. crude oil exports.

The House is expected to vote separately on the spending bill on Friday.

Senior Senate aides have said the two measures, part of a bipartisan deal that would avert a shutdown, would likely be combined in that chamber and considered in a single vote on Friday.

House Democratic Leader Nancy Pelosi said she is not confident that enough Democrats will support the massive government funding bill to ensure its passage, although she plans to vote for the must-pass legislation. Democratic votes are likely needed given opposition from some conservative Republicans.

“We have serious unease in our caucus,” Pelosi told reporters at a news conference, adding that a provision to lift the ban on exporting U.S. crude oil is the top obstacle in gaining enough Democrats’ support.

The government last shut down in 2013 for more than two weeks due to a fight in Congress over Republican opposition to President Barack Obama’s signature healthcare law, known as Obamacare.

(Reporting by Richard Cowan and Alistair Bell; Editing by Susan Heavey and Will Dunham)

About the Author
By Reuters
See full bioRight Arrow Button Icon

Latest in Leadership

man shooting at target bullseye and missing
NewslettersNext to Lead
The science of failing up: Why some leaders rise despite repeated screwups
By Ruth UmohDecember 8, 2025
12 minutes ago
Justin Hotard, CEO of Nokia
CommentaryGen Z
The workforce is becoming AI-native. Leadership has to evolve
By Justin HotardDecember 8, 2025
25 minutes ago
Ted Sarandos attends Netflix's "The New Yorker At 100" New York Screening at The Paris Theatre on December 04, 2025 in New York City.
NewslettersCEO Daily
Netflix needs Warner Bros.’s IP and franchises to remain the default streaming service
By Diane BradyDecember 8, 2025
27 minutes ago
CryptoBinance
Binance has been proudly nomadic for years. A new announcement suggests it’s finally chosen a headquarters
By Ben WeissDecember 7, 2025
7 hours ago
Future of WorkJamie Dimon
Jamie Dimon says even though AI will eliminate some jobs ‘maybe one day we’ll be working less hard but having wonderful lives’
By Jason MaDecember 7, 2025
17 hours ago
business
C-Suitechief executive officer (CEO)
Inside the Fortune 500 CEO pressure cooker: surviving is harder than ever and requires an ‘odd combination’ of traits
By Nick LichtenbergDecember 7, 2025
21 hours ago

Most Popular

placeholder alt text
Real Estate
The 'Great Housing Reset' is coming: Income growth will outpace home-price growth in 2026, Redfin forecasts
By Nino PaoliDecember 6, 2025
2 days ago
placeholder alt text
AI
Nvidia CEO says data centers take about 3 years to construct in the U.S., while in China 'they can build a hospital in a weekend'
By Nino PaoliDecember 6, 2025
2 days ago
placeholder alt text
Economy
The most likely solution to the U.S. debt crisis is severe austerity triggered by a fiscal calamity, former White House economic adviser says
By Jason MaDecember 6, 2025
2 days ago
placeholder alt text
Politics
Supreme Court to reconsider a 90-year-old unanimous ruling that limits presidential power on removing heads of independent agencies
By Mark Sherman and The Associated PressDecember 7, 2025
20 hours ago
placeholder alt text
Economy
JPMorgan CEO Jamie Dimon says Europe has a 'real problem’
By Katherine Chiglinsky and BloombergDecember 6, 2025
1 day ago
placeholder alt text
Uncategorized
Transforming customer support through intelligent AI operations
By Lauren ChomiukNovember 26, 2025
12 days ago
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.