"Challenges and Considerations in Bipartisan Tax Legislation for 2023 and Beyond"

House GOP leaders are seeking Democrat votes to pass an $80 billion tax bill next week, as Republican defections threaten its passage. The bill includes tax deductions for businesses and a temporary extension of the Child Tax Credit (CTC). GOP leaders are considering bypassing procedural steps to raise the threshold for passage to two-thirds, as hardline Republicans and swing seat Republicans express frustrations over the bill's lack of state and local tax (SALT) deductions and concerns about the CTC being claimed by illegal immigrants. The politically precarious position of House Speaker Mike Johnson, with a razor-thin majority, underscores the need for bipartisan support.