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A plan to temporarily expand the child tax credit and revive tax breaks for businesses received overwhelming bipartisan support in a committee vote Friday, a rare moment of compromise in a divided Congress that’s headed into a heated election year.

The aircraft buyer tax breaks have been included in the bipartisan plan moving to the floor of the U.S. House.

The House Ways and Means Committee voted 40-3 on Friday to advance a bipartisan, $78 billion plan to expand the child tax credit and restore a trio of expired or expiring business tax breaks. The overwhelming support indicates that the bill has momentum behind it as it heads to the House floor for a vote expected to come after lawmakers return from a one-week recess. “Today’s strong bipartisan vote in the Ways and Means Committee shows there is a path forward for Republicans and De...

Thinking about buying an aircraft? Read this.

Bringing Taiwan to the World and the World to Taiwan

A proposed bill increases the child tax credit, but fails the poorest families. Yet corporations would see a windfall.

U.S. lawmakers on Friday advanced a bill to enhance tax breaks for businesses and low-income families in a strong show of bipartisan support for the largely revenue-neutral measure.

Yesterday, the chairmen of the Senate Finance Committee and the House Ways and Means Committee introduced The Tax Relief for American Families and Workers Act of 2024 (the Act), which...

The British Retail Consortium has welcomed the tabling of an amendment to the Criminal Justice Bill to tackle retail crime.

A proposed tax package that would temporarily boost the child tax credit while providing more generous deductions for business investments would be fully paid for by the early elimination of a pandemic-era employee retention credit, the Joint Committee on Taxation announced late Wednesday. The combination of tax cuts in the Tax Relief for American Families and Workers Act of 2024, which would expire after three years, would reduce revenues by $79 billion, JCT said. Limiting payouts from the trou