U.S. News
House passes $78 billion bipartisan tax relief bill
By Jake Beardslee · February 1, 2024
In brief…
- House passed $78 billion bipartisan tax relief bill 357-70
- Expands child tax credit, restores some business deductions
- Some Republicans opposed child tax credit expansion
- Most New York Republicans voted yes despite lack of SALT cap increase
The House of Representatives passed a $78 billion tax relief bill on Wednesday in a show of rare bipartisanship. The bill, called the “Tax Relief for American Families and Workers Act,” passed 357-70. It was crafted by the chairs of the tax-writing committees, Rep. Jason Smith (R-Mo.) and Sen. Ron Wyden (D-Ore.).
The bill expands the child tax credit, restores some business deductions rolled back under President Trump, and provides disaster tax relief. “The numbers speak for itself, it shows that when you’re trying to deliver for the American people, people will join together and that’s what we saw today,” said Smith, The Hill reported.
But some conservative Republicans opposed expanding the child tax credit. Rep. Chip Roy (R-Texas) said “Unfortunately, as happens in this town, this legislation comes with provisions that, frankly, the people I represent are tired of…by expanding the child tax credit in ways that will continue to fund people directly through refundable credits which we find to be problematic.”
Some progressive Democrats argued the bill favored corporations over families. Rep. Rosa DeLauro (D-Conn.) said “There is inequity. They have moved in the direction of saying to the biggest corporations, ‘You get everything you want and more.’”
Most moderate New York Republicans supported the bill despite anger that it lacked an increase in the SALT deduction. Reps. Anthony D’Esposito and Nick Lalota voted no. The group briefly revolted Tuesday over an unrelated procedural vote.
Senate Majority Leader Chuck Schumer (D-N.Y.) said he supports the bill and is working with Sen. Ron Wyden (D-Ore.) on next steps.