spot_img

Lawmakers Reach Bipartisan Agreement On Child Tax Credit

Date:

spot_img

In a significant breakthrough, a bipartisan group of lawmakers has announced a major tax deal impacting families and businesses across the nation. The $78 billion agreement aims to expand the child tax credit and revive key business tax breaks.

The deal, a result of months of negotiations between House and Senate leaders, still has to be crafted into legislation, but it is a crucial development in a divided Congress.

The proposed policy includes refundable child tax credits benefiting 16 million kids in low-income families and lifting the $1,600 refundable cap, adjusting it for inflation.

It aims to reduce child poverty, potentially lifting 400,000 children above the poverty line, but would also revive elements of the 2017 Trump tax cuts for businesses.

While the White House supports the move, challenges remain in passing the deal amidst other pressing congressional priorities, including avoiding a government shutdown.


Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.

The post Lawmakers Reach Bipartisan Agreement On Child Tax Credit appeared first on American Urban Radio Networks.

Read the Black Chronicle Black History Edition for Free! Click Below

Read the Black Chronicle Black History Edition for Free! Click Below

spot_img
spot_img

Subscribe

Share post:

Popular

More like this
Related

Spokane police providing anti-theft steering locks to Kia, Hyundai owners

(The Center Square) – Are the Kia Boyz back...

Two more school districts sued for electioneering

(The Center Square) – More public-school districts are being...

U.S. began adding $1 trillion in debt every three months last June

The U.S. began adding $1 trillion worth of debt...

Washington Legislature votes to create ‘bias incident hotline’ within AGO

(The Center Square) – The Washington State Legislature has...