01/16/2024

Lawmakers Ink a Bipartisan Tax Deal to Expand the Child Tax Credit

However, it faces uncertain prospects of being enacted

A powerful bipartisan duo announced a significant tax deal Tuesday that would combine an expansion of the child tax credit with long-sought provisions for the business world.

It’s a deal that faces uncertain prospects of being enacted. But if it can find its way into law by the end of this month, it could even be felt during the upcoming tax filing season.

The pact is the culmination of months of talks that have long centered around an idea of pairing a Republican priority to renew three expired business-world deductions from the 2017 Trump tax cuts with a keen Democratic focus on the pandemic-era enhanced child tax credit.

Please select this link to read the complete article from Yahoo! Finance.