Congress sends tax cut extensions and other provisions to president

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Congress completed a flurry of last-minute tax bills on Dec. 16 by sending the president legislation that will retroactively restore nearly all of the tax provisions that expired at the end of 2013. Congress also passed a small package of revenue offsets and made a handful of changes to compensation and benefits rules. The most significant of those bills (H.R. 5771) retroactively restores nearly all of the 50-plus expired provisions, but only for a year.