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Tech Industry

Bush signs tax bill sans tech items

President Bush signed a $350 billion tax-and-spending bill on Wednesday that, in its final form, did not include two technology-related sections. Missing from the Jobs and Growth Reconciliation Tax Act was a Senate-backed proposal that would have amended tax laws to create financial incentive for broadband providers to extend their networks to rural and "underserved" areas. Also absent was a Senate plan to limit the tax deductions for charitable donations of intellectual property, such as software and patent rights.

A House-Senate conference committee excised both sections during extended negotiations over the bill, which cleared the Senate last week, with Vice President Dick Cheney breaking a 50-50 tie.