Congress on December 19 cleared a measure to prevent more than 20 million taxpayers from being ensnared by the alternative minimum tax (AMT) this year. At the urging of the Chamber, proposed tax increases to offset the $50 billion cost of AMT relief were eventually dropped from the final bill.

Before breaking for the holidays, Congress also approved an extension of a government insurance backstop to help businesses insure against catastrophic losses suffered as a result of a terrorist attack. The program was set to expire at the end of this year.

Look for more details in an upcoming issue of the Chamber's print publication, uschamber.com.