On a vote of 76-16, last night the Senate passed the Tax Extender Bill, which will extend tax breaks through Section 179 deduction limits for 2014. The House passed the measure Dec. 3 on a 378-46 vote. The bill now heads to President Barack Obama, who is expected to sign it.

The Tax Extender Bill reinstates the deduction limit to $500,000 for 2014 only and does not apply to purchases made in 2015.

Continue to watch www.farm-equipment.com for more details.