Republican senators are opposing a bipartisan bill that would extend business tax breaks and expand the child tax credit, despite its pro-family and pro-tax-cut nature. The bill has widespread support and would be paid for by curbing a pandemic-era tax break.
The modern GOP is supposed to be pro-family, pro-tax-cuts and anti-“waste, fraud and abuse.” So why are Republican senators trying to tank a bill that is all three?: Congress would extend a few business tax breaks that had recently expired in exchange for expanding the child tax credit . The bipartisan compromise turned out to be aout of poverty in its first year. It would increase incentives for research and development.
If that’s the strategy, it’s a strange one for many reasons. Among them: The bill includes tax breaks that had lapsed in the past couple of years, and the business community“Many employers, especially small businesses, have struggled with the unexpected tax bill created by the lapse in these provisions,” Neil Bradley, chief policy officer at the U.S. Chamber of Commerce, told me.
Republican Senators Bipartisan Bill Tax Breaks Child Tax Credit Support Pandemic-Era Tax Break
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