Bipartisan Tax Deal Advances, But Faces Uncertain Future

Proposed changes to Child Tax Credit could benefit millions, but inclusion of corporate tax cuts faces opposition.

House lawmakers have advanced a $78 billion bipartisan tax package, which includes temporary child tax credit changes that could affect millions of families this filing season.
The proposed changes to the child tax credit could see eligible families receive an average tax cut of $680 for 2023.
The bipartisan tax deal also includes several tax cuts that would decrease the effective tax rate for many large corporations.
New polling finds that voters largely support the expanded Child Tax Credit, but do not believe that the U.S. should lower taxes on large corporations.
Despite substantial bipartisan support, the proposal may not have enough votes to become law due to legislative and substantive objections.