The House Ways and Means Committee voted overwhelmingly Friday to approve a $78 billion tax package that would revive a trio of business tax incentives and expand the child tax credit.
The panel backed the measure on a 40-3 vote, with unanimous Republican and strong Democratic support, despite the minority party’s criticism of the package for doing too little to boost the child tax credit. Democratic support is likely to be key if the bill is to pass the House as a stand-alone bill, particularly if leadership wants to limit amendments or debate on the floor.
“This bill contains important provisions that individually have bipartisan support,” said Ways and Means Chairman Jason Smith, R-Mo. “We can show our constituents, who are struggling with inflation and high interest rates, that when Congress works together, we can still achieve big things: bipartisan tax relief that grows wages, supports better jobs, gives families more breathing room and keeps America competitive on the world stage.”
