Lawmakers Reach Bipartisan Tax Deal to Expand Child Tax Credit and Boost Business Deductions
TL;DR Summary
House and Senate tax leaders have reached a bipartisan deal to enhance the child tax credit, reinstate business deductions, and increase the low-income housing tax credit. The $80 billion deal aims to nix the employment retention tax credit to fund these changes. The proposal could benefit millions of children and promote innovation and economic competitiveness with China.
- House, Senate tax chiefs announce deal on business deductions, low-income credits The Hill
- US lawmakers reach $78 billion tax deal for businesses, families Yahoo Finance
- Congress announces major tax deal to expand child tax credit and revive breaks for businesses NBC News
- Lawmakers Strike Deal on Expanded Child Tax Credit, but Face Long Odds The New York Times
- Lawmakers ink a bipartisan tax deal to expand the child tax credit Yahoo Finance
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