The House passed late Wednesday by 378-46 vote, H.R. 5771, the Taxpayer Tax Increase Prevention Act of 2014, which extends for one year a host of individual and business tax provisions that expired at year-end 2013.

House Ways and Means Chairman David Camp, R-Mich., said in comments on the House floor Wednesday afternoon that he wasn’t pleased with “this on-again, off-again style of legislating on a temporary basis” as it’s “a terrible way to make tax policy.”

Taxpayers, Camp said, “deserve to know whether these tax policies are going to be there year in and year out on a permanent basis. Temporary renewals cannot provide the certainty that American businesses need in order to make the best decisions about how to invest in cutting-edge research, whether to buy that new piece of equipment, and most importantly, whether to hire that additional worker.”

Sen. Orrin Hatch, R-Utah, who will replace Sen. Ron Wyden, D-Ore., as head of the Senate Finance Committee in the new Congress, said before the vote that lawmakers have gone “from being the on cusp of a deal – a deal that both sides could reasonably support – to a situation where probably our only recourse will be to pass a one-year retroactive extension of all tax extenders.”

Hatch said that he’d hoped lawmakers “could bring more permanency for American businesses and taxpayers.”

Published reports say that the Senate will “have to take” the House-passed bill.

Some of the extenders include the extension of tax-free distributions from individual retirement plans for charitable purposes. This provision extends through 2014 the ability of individuals at least 70½ years old to exclude from gross income qualified charitable distributions from individual retirement accounts. The exclusion may not exceed $100,000 per taxpayer in any tax year.

The research and development (R&D) tax credit provision would also be extended through 2014. The credit generally allows taxpayers a 20 percent credit for qualified research expenses or a 14 percent alternative simplified credit.

Also extended would be increased expensing limitations and treatment of certain real property as Section 179 property. The provision extends the small-business expensing limitation and phase-out amounts in effect from 2010 to 2013 ($500,000 and $2 million) to property placed in service during 2014. These amounts currently are $25,000 and $200,000, respectively. The special rules that allow expensing for computer software, qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property also would be extended through 2014.