House Passes Major Tax Bill with Bipartisan Support

The legislation aims to expand the Child Tax Credit and adjust business tax breaks, facing an uncertain future in the Senate.

The House approved a significant tax bill, expanding the Child Tax Credit and extending business tax breaks, with a vote of 357 to 70.
Senate passage remains uncertain, with some Republicans expressing concerns about the bill's cost and potential impact on the 2024 election.
The bill seeks to alleviate financial burdens on low-income families, potentially lifting half a million children out of poverty.
Opposition from both sides of the aisle hints at a challenging path ahead in the Senate, despite bipartisan support in the House.
The legislation also includes provisions for disaster relief and housing tax credits, aiming to address a range of economic issues.