The House has passed a roughly $79 billion tax cut package expanding the child tax credit for millions of families and restoring three key tax breaks for businesses.

…And for some Republicans, it was too much. The chief critics of the expanded child tax credit likened it to “welfare.”

“What is a refundable tax credit? It’s welfare by a different name. We’re going to give cash payments, checks, to people who don’t even pay taxes,” said Rep. Thomas Massie, R-Ky

This fucking guy

  • AutoTL;DR@lemmings.worldBEnglish
    3·
    6 months ago

    This is the best summary I could come up with:

    Prospects for the measure becoming law are uncertain with the Senate still having to take it up, but for a House that has struggled to get bills of consequence over the finish line, the tax legislation could represent a rare breakthrough.

    He spent part of the previous day meeting with GOP lawmakers who were concerned about particular features of the bill, namely the expanded child tax credit.

    Athina Lawson, a spokeswoman for Johnson, said the speaker and the chairman of the House Ways and Means Committee, Rep. Jason Smith, R-Mo., agreed to work with lawmakers to “find a path forward.”

    “Each of these policies will help American businesses grow, create jobs and sharpen their competitive advantage against China,” Smith said as debate began on the House floor.

    Democrats pushed to restore the more generous tax credit they passed in 2021 in President Joe Biden’s first year in office with payments occurring on a monthly basis.

    And it would ensure victims of certain natural disasters and the East Palestine, Ohio, train derailment don’t get hit with a big tax bill for payments they received as compensation for their losses.

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