Lawmakers Announce Bipartisan Effort To Enhance Child Tax Credit, Revive Tax Breaks For Businesses
January 16, 2024 1:30PM PST
Credit: MGN
WASHINGTON (AP) — The chairmen of the top tax policy committees in Congress have announced a bipartisan agreement to enhance the child tax credit and revive a variety of tax breaks for businesses.
The combination is designed to attract support from lawmakers of both political parties.
Announced on Tuesday, supporters are hoping to pass the measure in time for the current tax filing season attached to other must-pass bills, but leadership in both chambers would have to go along. T
he roughly $78 billion package would be paid for by more quickly ending a tax break Congress approved during the COVID-19 pandemic that encouraged businesses to keep employees on their payroll.
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