Congress should not pass up the opportunity to deliver economic relief to families and small businesses. Doing the right thing will pay dividends in November for the Republican members in the House who supported this tax deal. Republican senators need to follow suit.
The American family is under a lot of pressure these days due to record inflation and the high cost of living.
On the individual tax side, families would benefit from enhanced refundability of the Child Tax Credit and peg the CTC to inflation. Never mind that the Trump tax cuts doubled the Child Tax Credit and that the Credit was created by Newt Gingrich’s Contract With America in the 1990s. Another necessary provision is the Full Expensing of Research & Development Investments — something entrepreneurs heavily engage in.
For some reason, a handful of Republicans, including Mitch McConnell and leadership, want to keep this bill from passing, which would deny tens of billions of dollars in tax relief.
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