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A bill that would restore several key business tax credits that expired when Donald Trump left office passed the House by a bipartisan vote of 357-70. The bill also restores a modified child tax credit support. It received support from 188 Democrats and 169 Republicans. Forty-seven Republicans voted against the bill along with 23 Democrats.
« The Tax Relief for American Families and Workers Act is important bipartisan legislation to revive conservative pro-growth tax reform. Crucially, the bill also ends a wasteful COVID-era program, saving taxpayers tens of billions of dollars, » Speaker Mike Johnson (R-La.) said in a statement.
Johnson had been dubious of the bill’s $78 billion price tag and the modified child tax credit. In the end, the GOP tweaked the child tax break, sunsetting the credit in 2025.
Johnson resisted pressure to raise the cap on property taxes, the SALT deduction, that northeastern lawmakers and Democrats from big states were agitating for. Johnson pledged to bring up the property tax cap as a separate bill later in the session.
