House Passes $79B Tax Cut Package with Broad Bipartisan Support

The House passed a roughly $79 billion tax cut package that would enhance the child tax credit and revive three business tax breaks. The bill passed 357-70 with broad bipartisan support, a rare accomplishment in the House. The measure would incrementally raise the refundable child tax credit to $2,000 and adjust it for inflation. It would also boost tax credits for rental housing, business equipment and machinery, and domestic R&D. Some GOP members criticized expanding the child tax credit as "welfare" but most supported the compromise.