Political and Legislative

House Votes to Pass a Bipartisan Tax Bill That Would Expand Child Tax Credit

The House voted Wednesday night to pass a bipartisan tax bill that would enhance the popular Child Tax Credit to benefit millions of American families.

The House voted 357-70 to pass the measure — a rare bipartisan win. It now goes to the Senate, where its fate is uncertain.

If passed by the Senate, the $78 billion tax package called the Tax Relief for American Families and Workers Act of 2024 would increase the child tax credit and restore critical research and development deductions. It includes new low-income housing tax credits and disaster tax relief and tax benefits for Taiwan. If passed, the changes would be in effect through 2025 when previous Republican tax cuts expire.

Read the source article at ABC News

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