Conservatives call for big business tax cuts while White House backs child tax credit

  • by:
  • Source: The Hill
  • 12/04/2023

Tax cuts for big business are once again facing off against the expanded child tax credit (CTC) in the yearly December fight to make last-minute changes to the tax code.

Republicans want to see deductions extended for research and development costs, fixed capital investments such as machinery and equipment, as well as interest expense.

The White House is leaving open the possibility for a deal, saying these cuts would be possible if a beefed-up CTC also makes it into law.

“The President strongly believes that any bill that cuts taxes for big corporations must cut taxes for working people and families with children — especially to reduce child poverty,” a White House official told The Hill on Friday, maintaining the position the White House had last year when a similar deal was in the works.

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