House approves $80 billion bipartisan tax relief bill expanding credits
The bill initially provoked frustrations from moderate New York Republicans due to its exclusion of State and Local Tax (SALT) provisions.
The House of Representatives on Wednesday evening approved a bipartisan tax relief plan to expand several credits.
The lower chamber approved the roughly $80 billion package in an 357 to 70 vote under suspension of the rules. It faces uncertain prospects in the Senate.
Should it become law, the Tax Relief for American Families and Workers Act of 2024 would expand the child tax credit (CTC) to $3,600 per child form the current $2,000. It would further create low-income housing credits and restore research and development deductions, according to ABC News.
The bill initially provoked frustrations from moderate New York Republicans due to its exclusion of State and Local Tax (SALT) provisions. Under the 2017 Tax Cuts and Jobs Act, the maximum SALT deduction stands at $10,000.
New York Republicans have pushed to double that figure and House Speaker Mike Johnson reportedly committed to a separate vote on SALT provisions ahead of the Wednesday tax vote.
Ben Whedon is an editor and reporter for Just the News. Follow him on X, formerly Twitter.