Read previewThe House just passed a bill to expand the child tax credit , bringing the relief one step closer to parents.
On Wednesday night, the House passed the Tax Relief for American Families and Workers Act of 2024 by a vote 357-70, which aims to boost the child tax credit, implement low-income housing credits and disaster relief, and give businesses an R&D tax break, among other things.
AdvertisementThe legislation — a rare bipartisan feat — would both boost the child tax credit and offer GOP-friendly tax relief for businesses that invest in research and development, among other measures.
The refundable child tax credit would be increased from $1,600 a child to $1,800 in 2023 and would rise to $2,000 by 2025.
Some GOP lawmakers were upset with the expansion of the child tax credit, along with the advancement of the tax package while other conservative priorities remained stalled.
Persons:
—, Mike Johnson, Karine Jean, Pierre, Jean, Pierre said, Chip Roy, Jimmy Failla
Organizations:
Service, Relief, American Families and Workers, Business, GOP, Budget, Tax, White House Press, Fox, Senate
Locations:
Washington