"House Votes on Bipartisan Bill to Expand Child Tax Credit and Corporate Tax Breaks"

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Source: NBC News
"House Votes on Bipartisan Bill to Expand Child Tax Credit and Corporate Tax Breaks"
Photo: NBC News
TL;DR

The House is set to vote on a $78 billion tax package that includes an expansion of the child tax credit, facing objections from various corners. The bill has bipartisan support but is uncertain in the Senate, where it will need 60 votes to pass. The legislation aims to provide relief to struggling families by incrementally lifting the refundable cap on the credit and resurrecting some expired parts of the 2017 Republican tax cuts for businesses. Senate Republicans are seeking revisions, including eliminating the provision allowing taxpayers to use a previous year's income for larger child tax credits.

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