In a bipartisan effort, the House passed a $78 billion tax bill titled the Tax Relief for American Families and Workers Act with a 357-70 vote. The bill aims to increase the child tax credit and restore business deductions eliminated during the Trump administration. Crafted by leaders from both the House and Senate, the legislation represents a rare moment of unity in a Congress often marked by division. The bill, now headed to the Senate, has garnered support from Senate Majority Leader Chuck Schumer.
However, the bill faced opposition from various quarters, including conservative Republicans who criticized the expansion of the child tax credit as fostering the “welfare state,” and progressives who argued it favored corporations over families. Despite these objections, the measure’s provisions include raising the maximum child tax credit, enhancing the low-income housing tax credit, reinstating certain business deductions, and offering tax relief to disaster victims. While some New York Republicans initially resisted due to the absence of an increase in the state and local tax (SALT) deduction, most eventually supported the bill.
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