The child tax credit debate is a preview of next year’s big tax fights

The child tax credit debate is a preview of next year’s big tax fights
The dome of the United States Capitol Building in Washington, DC. by Ian Hutchinson is licensed under Unsplash unsplash.com
President Biden in his State of the Union address Thursday laid out broad new policy goals for a second term, with aims to use tax hikes on major corporations and the wealthy to make new investments in child care and eldercare, affordable housing and education.

The speech, and the debates over policy over the course of the 2024 election, signal the start of a massive struggle facing Congress and the White House next year, as trillions of dollars in tax cuts pushed in 2017 by President Donald Trump expire.

If Biden wins another four years, Democrats will try to enact Biden’s plans, which, by some measures, are broader than the legislative achievements that have anchored his first term. If Trump wins, Republicans will fight to keep many of those earlier cuts.
The dome of the United States Capitol Building in Washington, DC. by Ian Hutchinson is licensed under Unsplash unsplash.com

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