Posted 2/1/2024, 1:34:00 AM
House Passes Bipartisan $78 Billion Tax Relief Bill Expanding Child Credit, Business Deductions
- The House passed a $78 billion bipartisan tax relief bill that expands the child tax credit and reinstates some business deductions
- The bill passed 357-70 and now goes to the Senate for consideration
- Conservative Republicans opposed expanding the child tax credit, calling it a "welfare state" expansion
- Progressive Democrats complained the bill favors corporations over working families eligible for the expanded child tax credit
- Moderate New York Republicans expressed anger that the bill doesn't increase the SALT deduction cap, briefly rebelling before most voted for it after a commitment for future SALT talks