"Congress Strikes Bipartisan Tax Deal to Expand Child Tax Credit and Support Main Street Businesses"

House Ways and Means Committee Chairman Jason Smith and Senate Finance Committee Chairman Ron Wyden have announced a bipartisan tax framework aimed at promoting the financial security of working families, boosting American competitiveness, and strengthening Main Street businesses. The plan, known as The Tax Relief for American Families and Workers Act of 2024, includes provisions to support working families, enhance innovation and competitiveness, build up Main Street businesses, rebuild communities struck by disasters, and eliminate fraud and waste by ending the Employee Retention Tax Credit program.