House Passes Bipartisan Tax Bill Benefiting Parents And Corporations

>It's unclear if the Senate will pass the bill, with one Republican saying it “makes the president look good” by letting him “mail out checks before the election.”

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WASHINGTON — The House of Representatives on Wednesday approved a bipartisan bill expanding the child tax credit, as well as business deductions long sought by corporate America.

If the bill passes the Senate, millions of American families could get more money back from the IRS in the coming months. The House approved the bill with a huge bipartisan majority vote, but it’s not clear if the Senate will move quickly.

The bill passed the House on a 357-70 vote.

Sen. Mike Crapo (R-Idaho), the top Republican on the Senate Finance Committee, said that he believes the upper chamber will hold hearings on the legislation before the full Senate can approve it.

“When a bill goes to the floor in regular order, every senator can file amendments,” he noted.

Sen. Chuck Grassley (R-Iowa), meanwhile, suggested that he opposed the bill because passing it “makes the president look good” by allowing him to “mail out checks before the election,” helping him get re-elected and making it harder for Republicans to have their way with tax policy going forward.

While Democratic leaders in the Senate have endorsed the bill, Senate GOP leadership has stayed silent. Several GOP lawmakers have voiced concerns about its impact on the federal deficit, even though budget scorekeepers have said that its cost will be offset.

If the Senate changes the bill, then it would have to pass the House again before it could become law — which could be a problem.

https://www.huffpost.com/entry/house-tax-bill-child-tax-credit_n_65baae6fe4b0102bd2d78f11