U.S. House Passes Bipartisan Tax Bill

The House of Representatives has approved a bipartisan package aimed at expanding the child tax credit and reinstating corporate tax breaks.

The $78 billion package garnered strong bipartisan support, passing by a vote of 357 to 70. I Photo: House Speaker Mike Johnson Facebook

According to the New York Times report, the bill now advances to the Senate.

The $78 billion package garnered strong bipartisan support, passing by a vote of 357 to 70. Mainstream lawmakers from both parties led the House in passing its first significant bipartisan legislation of the year.

By bolstering the child tax credit for millions of low-income families and enhancing three tax breaks for businesses, lawmakers from across the political spectrum secured important policy victories, as outlined by Kevin Freking for the Associated Press (AP).

The prospects for the bill becoming law remain uncertain, as the Senate must still consider it.

However, for a House that has faced challenges in passing consequential legislation, the tax bill represents a notable achievement.

Speaker Mike Johnson, R-La., endorsed the bill on Wednesday morning after addressing concerns from GOP lawmakers, particularly regarding the expanded child tax credit, during discussions the previous day.

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