Republican senators have blocked an election-year bill limiting tax breaks for U.S. companies that move operations overseas.
The bill would have prevented companies from deducting expenses related to moving their operations to a foreign country. The bill also would have offered tax credits to companies that move operations to the U.S.
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Democrats championed the bill, saying it would end senseless tax breaks for firms that ship jobs abroad.
Republicans called the bill an election-year stunt. They noted that Democrats tried to pass a similar bill two years ago, right before the last congressional elections.
The White House says President Barack Obama supports the bill.