WASHINGTON — Negotiations on legislation sought by the banking industry were expected to continue into last weekend.

The Senate planned to vote Tuesday on a $240 billion tax-cut package that would create a tax-deferred savings account for farmers and ranchers, let banks pay interest on business checking accounts, raise limits on contributions to retirement savings plans, and create tax breaks for banks and other companies that invest in poor communities.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.