Congress Prepares to Vote on Year-Long Tax Break Extensions

House Republicans are struggling to agree on a long term plan for tax breaks affecting millions. The GOP will vote on Tuesday morning to extend temporary tax breaks by one year. The extension would only run through the end of December but would allow businesses and individuals to claim the tax breaks when they file their 2014 returns. According to the Tax Institute about 1 in 6 people will be affected by the decision. Last week's negotiations to make some of the tax breaks permanent broke down. That happened after the White House threatened to veto an emerging package, saying it was too heavily weighted towards big companies rather than families. The House is now hoping to rush through some short-term measures before Congress adjourns next week.