Child tax credit portal
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In a landmark late-night decision, the U.S. House of Representatives cast their votes in favor of a groundbreaking $78 billion tax package. This exciting development heralds the introduction of an enhanced child tax credit alongside a series of tax incentives for businesses, sparking widespread anticipation.
The fruit of relentless negotiations, this bipartisan pact was masterfully crafted by Senate Finance Committee's Ron Wyden (D-Ore.) and House Ways and Means Committee's Jason T.
Smith (R-Mo.), who dedicated months to sculpting this agreement. While the bill's fate in the Senate hangs in the balance, it stands as a beacon of hope for President Biden, potentially marking a significant triumph in his quest to revive a key feature of his economic strategy—the expanded child tax credit, a cornerstone of his 2021 American Rescue Plan.
Recall the 2021 surge in the credit to $3,000 (and $3,600 for children under 6) as part of Biden's stimulus agenda, a boost that sadly reverted to $2,000 with the expiry of the plan at 2021's end.
The deal's most tra
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