House passes $78 billion tax bill expanding child tax credit and boosting US manufacturing

  • by:
  • Source: Fox News
  • 02/02/2024
House passes $78 billion tax bill expanding child tax credit and boosting US manufacturing
The dome of the United States Capitol Building in Washington, DC. by Ian Hutchinson is licensed under Unsplash unsplash.com
The House of Representatives approved a major bipartisan deal to temporarily expand the child tax credit and revive a number of business tax breaks on Wednesday.
 

The $78 billion tax bill passed in a 357-70 vote with wide support from both Democrats and Republicans, despite issues raised earlier this week by key factions on the right and left. 

It got support from 188 Democrats and 169 Republicans. Forty-seven Republicans voted against the bill along with 23 Democrats.

Speaker Mike Johnson, R-La., gave the bill his blessing hours before the final vote.

"The Tax Relief for American Families and Workers Act is important bipartisan legislation to revive conservative pro-growth tax reform. Crucially, the bill also ends a wasteful COVID-era program, saving taxpayers tens of billions of dollars," Johnson said in a statement.

The dome of the United States Capitol Building in Washington, DC. by Ian Hutchinson is licensed under Unsplash unsplash.com

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