WASHINGTON (AP) – The Senate takes up a huge tax-break package today. The 100 billion-dollar measure would increase incentives for renewable energy investment and give tax breaks to businesses and individuals. It would also adjust the alternative minimum tax, which must be fixed by Congress regularly or it can pose a tax hike for more than 20 million people. The bill also includes more than eight billion-dollars in tax relief for victims of hurricanes and other natural disasters. The Senate is expected to act first on the alternative energy section of the package. That provides some 17 billion dollars in incentives to develop and use wind, solar and other renewables. The bill would then head to the House, where many Democrats say it’s wrong to provide tax relief without revenue increases aimed at preventing further ballooning of the budget deficit.
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