Lawmakers pass a $79bn tax cut package with broad bipartisan support, giving both parties coveted policy winsThe House accomplished something unusual Wednesday in passing, with broad, bipartisan support, a roughly $79bn tax cut package that would enhance the child tax credit for millions of lower-income families and boost three tax breaks for business, a combination that gives lawmakers on both sides of the political aisle coveted policy wins.Prospects for the measure becoming law are uncertain with the Senate still having to take it up, but for a House that has struggled to get bills of consequence over the finish line, the tax legislation could represent a rare breakthrough. The bill passed by a vote of 357-70. Continue reading…
Source link : https://www.theguardian.com/us-news/2024/jan/31/house-child-tax-credit-business-tax-break-bill
Author : Associated Press
Publish date : 2024-02-01 02:27:02
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House passes US bill to expand child tax credit and revive business tax breaks
