Senate leaders in both parties have agreed on patching the alternative minimum tax for another year, passing a set of clean energy tax incentives and extending several expiring tax cuts for businesses and families.
The bipartisan agreement, announced by leaders of the Senate Finance Committee, includes $17 billion worth of tax incentives for clean energy sources. It will be paid for in part by freezing the tax deduction for the domestic manufacturing activities of American oil and gas companies and tightening the rules by which oil and gas companies pay taxes on income earned overseas.
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