02/01/2024

In Rare Bipartisan Vote, House Backs $78 Billion Child, Business Tax Breaks

The measure is a rare example of cooperation between the two parties

On Wednesday, the House of Representatives overwhelmingly approved a $78 billion bipartisan package of tax breaks for businesses and low-income families that was put on a fast track even as Congress remains deadlocked over broader fiscal issues.

The temporary tax measure, which would increase the Child Tax Credit and reinstate income deductions on business research and development and certain capital investments through 2025, was approved on a strong bipartisan 357-70 vote.

The measure was a rare example of cooperation between Republicans and Democrats amid a deadlock over government funding, including aid for Ukraine and Israel, that has been held up in Congress for months over Republican demands for stronger controls on the southern U.S. border.

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