House Decides to Pass New $78 Billion Tax Bill

[Photo Credit: By Diliff - Self-published work by Diliff, Public Domain,]

Wednesday, the House of Representatives approved a $78 billion tax measure that reinstates business deductions that were eliminated during the Trump administration and increases the child tax credit.

The bipartisan, bicameral legislation is now awaiting Senate consideration.

The chamber ratified the Tax Relief for American Families and Workers Act by a vote of 357 to 70, which was overwhelmingly bipartisan.

The legislation, formulated by the chairs of the House Ways and Means Committee Jason Smith (R-Mo.) and Senate Finance Committee Ron Wyden (D-Ore.), was successfully passed.

This represents an uncommon demonstration of bipartisanship in the current Congress, which has been characterized by intense partisan disputes and deemed to be exceedingly ineffective.

Furthermore, this is one of the limited opportunities this session for the passage of a nonessential measure, which consists of provisions not necessary for the operation of the government.

However, the bill did not receive unanimous approval; moderate New York Republicans, progressive Democrats, and conservative Republicans all voiced their opposition, accumulating “no” ballots.

A near-revolt on the House floor on Tuesday was precipitated by the opposition from legislators from the Empire State, who were enraged that the legislation failed to incorporate a rise in the state and local tax (SALT) deduction. This incident served as an indication of the group’s indignation.

Strict line To begin with, Republican legislators criticized the expanded child tax credit, claiming it would contribute to the expansion of the “welfare state.”

Furthermore, they asserted that the legislation would permit families consisting of illegal immigrants to continue receiving the benefits, despite the fact that this provision is consistent with the Trump administration’s 2017 tax bill, which mandates that children possess Social Security numbers so that their parents can continue to receive the benefits.

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