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This article was originally published in The Gray Sheet
SEC. 936 TAX CREDIT PHASE-OUT PASSED BY HOUSE MAY 22 by an overwhelming margin of 414-10. The legislation (HR 3448) calls for a 10-year phase-out of the Sec. 936 Puerto Rico and possessions tax credit as a means of partially offsetting the revenue lost from a package of small business tax cuts included in the measure.
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