The "party of family" strikes again - Votes against continuation of child tax credit
Yeah, yeah. It's all about the kids and the real American families.
(Washington Post) Senate Republicans blocked legislation Thursday to cut taxes for working families and extend some corporate tax breaks, dooming a bipartisan compromise that the House had overwhelmingly approved and raising the stakes on taxes for this fall’s elections.
The $79 billion legislation would have expanded eligibility for the child tax credit, or CTC, among the lowest-income families and adjusted payments for inflation for the 2024 and 2025 filing years.
It also would have bolstered certain business tax credits — including deductions for research and development, interest expenses and investments in equipment — that were limited in an effort to cap the total costs of President Donald Trump’s 2017 tax cut law. The bill, a product of negotiations between Senate Democrats and House Republicans, passed the lower chamber with a large bipartisan majority in January.
But Senate Republicans mostly opposed the measure, reasoning that they could write a more conservative tax bill in 2025 if they win control of Congress and the White House.
(Washington Post) Senate Republicans blocked legislation Thursday to cut taxes for working families and extend some corporate tax breaks, dooming a bipartisan compromise that the House had overwhelmingly approved and raising the stakes on taxes for this fall’s elections.
The $79 billion legislation would have expanded eligibility for the child tax credit, or CTC, among the lowest-income families and adjusted payments for inflation for the 2024 and 2025 filing years.
It also would have bolstered certain business tax credits — including deductions for research and development, interest expenses and investments in equipment — that were limited in an effort to cap the total costs of President Donald Trump’s 2017 tax cut law. The bill, a product of negotiations between Senate Democrats and House Republicans, passed the lower chamber with a large bipartisan majority in January.
But Senate Republicans mostly opposed the measure, reasoning that they could write a more conservative tax bill in 2025 if they win control of Congress and the White House.
