Senate Finance Committee approves two-year extender on taxes

The Expiring Provisions Improvement Reform and Efficiency Act has been approved by the Senate Finance Committee.

This bill extends for two years all but two of the tax provisions that expired at the end of last year, according to the American Farm Bureau Federation (AFBF). All of the expiring provisions supported by Farm Bureau were included in the extension.

Those provisions include Section 179 small business expensing, bonus depreciation, biodiesel and alternative fuel refueling property.

For more information, click here for the AFBF backgrounder on taxes.