House GOP pushes $300 billion package of tax cuts despite White House veto threat over cost

Lifestyle and Budget Associated Press

House Republicans are pushing through a series of tax cuts this week affecting millions of businesses and individuals, despite White House veto threats over the cost.

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Together, the tax cuts would add more than $300 billion to the budget deficit over the next decade.

The debate highlights a dispute between Republicans and Democrats over whether tax cuts should be paid for, making it difficult to enact even popular tax cuts.

The smallest tax cut would expand college savings plans that President Barack Obama unsuccessfully tried to scale back. Others would encourage charitable giving or make it easier for businesses to invest in new equipment or research and development.

The White House supports many of the provisions but wants them paid for by spending cuts or other revenue increases.