Sen. Mike Crapo, the top Republican on the Finance Committee, made it clear again Wednesday that he does not support the $78 billion tax bill that would expand the Child Tax Credit and restore a set of business tax breaks, with the cost covered by the elimination of the pandemic-era employee retention tax credit. The bill, negotiated by Democratic Senate Finance Committee Chairman Ron Wyden and Republican House Ways and Means Chairman Jason Smith, passed the House easily in January in a bipartis
The House on Tuesday night easily passed a $78 billion bipartisan bill to increase the Child Tax Credit and restore some business tax breaks through 2025. The Tax Relief for American Families and Workers Act of 2024 would also expand the low-income housing tax credit and provide some disaster relief. It sailed through in a 357-to-70 vote that far exceeded the two-thirds majority required for passage, though 47 Republicans and 23 Democrats voted against the legislation. “Most prognosticators woul
The House of Representatives is poised to vote tonight on a $78 billion bipartisan deal that would temporarily enhance the Child Tax Credit and restore a trio of corporate tax breaks. The measure is expected to pass with broad bipartisan backing, though the vote only comes after House Speaker Mike Johnson was able to reach a side deal to allay the concerns of blue state Republicans upset that the cap on state and local tax deductions was not raised in the legislation. “The Tax Relief for America