"House Passes Bipartisan Tax Bill Expanding Child Tax Credit and Business Breaks"

The House passed a bipartisan tax bill that would expand the child tax credit and reinstate some tax cuts for businesses, facing challenges in the Senate where Republicans are demanding additional hurdles. The bill would raise the child tax credit to $1,800 per child in 2023, $1,900 in 2024, and $2,000 in 2025, while also providing tax benefits for natural disaster victims and strengthening the low-income housing tax credit. However, ultraconservative lawmakers opposed the bill over the expanded child tax credit, while progressive lawmakers criticized it for not going far enough to expand the tax credit and unduly benefiting companies.