55 Tax Breaks Set to Expire Dec. 31

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Dec. 31 (Bloomberg) -- Bloomberg Television's "Lunch Money" Host Matt Miller reports on U.S. politics. (Source: Bloomberg)

2013 was a guest -- rough year for washington, but i guess it is kind of like that every year.

The nsa spying scandal, the government shutdown.

Might even be a year that both parties want to forget.

Even president obama is moving forward.

President 13 -- 2013 could the break year through for america.

We all know there is a lot more we will have to do to restore opportunity and brought base growth for every american.

That will require action.

I think we are all ready for action from congress.

Get companies hiring.

Leave money in the pockets of people who earned it.

There are a bunch of tax breaks that expire tomorrow.

You have the individual issues.

Two hundred $40 right now.

That will drop to $130 as of tonight.

Charles schumer says this could affect over 700 thousand new yorkers.

A huge deal from the individual side of things.

The research and development tax credit, something that intel on the bristol miles squared -- bristol-myers rely on.

Tax credit for veterans.

Each efficiency tax credits.

Those are all gone tonight as well.

Back to the individual.

Private mortgage insurance write-offs.

Commuter benefits will really have an impact.

All of that on tonight.

When congress will come back to this issue is anyone's guess right now.

These programs are so important we will see action to keep them in place.

The hard part here is you are not going to get dave camp, the house republican chair of ways and means will not give up on reform.

He really wants an opportunity to do it.

So that puts another delay on it.

Here is another big issue, how do you pay for this?

52 point 2 billion annually.

They have to be paid for.

Not a lot of money but congress can find for this.

We may not be able to pay for it since we still have a big budget deficit.

Democrat and republican still standing on opposite sides of the room in the congressional bans.

Republicans still bickering among themselves.

Le the bickering is hardly over.

This is a fight that will persist in 2014. republicans and all-out civil war should provide an opening for the president.

What can he do to hit the ground running in 2000 14? he needs to knock the ball out of the park.

It will be a laundry list of proposals that will probably go nowhere.

The key for the president is not obamacare.

That was the key in the year that is about to end.

The key is whether the economy

This text has been automatically generated. It may not be 100% accurate.


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