Joe.My.God. LGBT News
CNN reports:
The House voted on Wednesday evening to pass a $78 billion bipartisan tax package that would temporarily expand the child tax credit and restore a number of business tax benefits.
The bill will next go to the Senate. House Speaker Mike Johnson currently oversees a razor-thin majority, but the bill passed with rare bipartisan support. The vote was 357 to 70.
The package would lift at least half a million children out of poverty and improve the financial situation of about 5 million more children who would remain below the poverty line, once the proposal is fully in effect in 2025.
Axios reports:
The deal left House GOP leadership scrambling to appease various factions’ grievances about the measure, and ultimately passed with the help of Democrats.
In the eleventh-hour, GOP leadership provided assurances to moderate GOP New Yorkers that a fix for the state and local tax deduction would see action in the House.
Conservatives who voted against the measure blasted it for being brought up on suspension of the rules and argued it provided tax relief to undocumented immigrants — an allegation House Ways and Means Chair Jason Smith (R-Mo.) said was not true.
357-70: House passed $79B in tax benefits expanding the child tax credit and reinstating a series of expired business tax breaks that were part of the 2017 tax cuts law. 2/3rds vote (285) was needed. Bipartisan bill now heads to the Senate. pic.twitter.com/kR5F5jTnpd
— Craig Caplan (@CraigCaplan) February 1, 2024