LOADING ERROR LOADINGWASHINGTON — The House of Representatives on Wednesday approved a bipartisan bill expanding the child tax credit, as well as business deductions long sought by corporate America. The House approved the bill with a huge bipartisan majority vote, but it’s not clear if the Senate will move quickly. While Democratic leaders in the Senate have endorsed the bill, Senate GOP leadership has stayed silent. Congressional tax analysts said that a tax filer who has two children and earned $9,000 last year would receive a child tax credit refund worth $975 under current law, but $1,950 under the proposal. The money from the crackdown would go to pay for the child tax credit and business breaks.

Source: Huffington Post February 01, 2024 07:42 UTC