Page 29 - Workers Act News Today

Posts about ‘ ‘pro-growth’ reform written by Jerry

A nearly $80-billion bipartisan tax deal secured a significant victory Wednesday evening when it was passed by the US House of Representatives

The Smith-Wyden bipartisan tax package passed by a whopping final vote of 357-70. It expanded the child tax credit given to illegal aliens, revived business tax benefits like R&D, and passed the House under suspension. It’s now onto the Senate. GOP Sen. Grassley told Joseph Zeballos-Roig that he

The federal child tax credit received a modest boost in the bill but falls short of the 2021 expansion, disappointing Democrats.

Families that are covered under the legislation could see their 2023 taxes cut by $680.

The legislation, known as the Tax Relief for American Families and Workers Act of 2024, is aimed at providing relief to lower-income families by making it easier to qualify for the child tax credit.

The bill includes $33 billion to expand the widely used child tax credit for three years — including the tax season currently underway, provided the bill quickly passes the Senate.

The House of Representatives passed a tax deal that would restore bonus depreciation, end the Employee Retention Credit early, and expand the Child Tax Credit.

The Tax Relief for American Families and Workers Act will make a significant difference for millions of families struggling to get by. No other legislation before this Congress would have such an impact in reducing child poverty.

The U.S. House voted Wednesday night to pass a $78 billion bipartisan tax bill to temporarily expand the child tax credit and reduce small business regulations in a trio of tax breaks.