Child tax credit bill passes committee on a big bipartisan vote, heading to House floor
The new tax bill that includes an expansion of the child tax credit and breaks for businesses passed through committee on a big bipartisan vote.
WASHINGTON — The House Ways and Means Committee voted 40-3 on Friday to approve a bipartisan tax package that includes an expansion of the child tax credit and a series of breaks for businesses, sending it to the full chamber with momentum.
The panel’s vote on the $78 billion bill comes as the Republican-led House leaves for a one-week recess. But lawmakers are hopeful that the chamber will vote on it as early as the following week, which coincides with the beginning of tax filing season.
Republican sources said the bill is expected to hit the House floor the week of Jan. 29, when the House returns. One lawmaker said they believe it will be on the House floor during the first few days of that week, potentially under “suspension,” a process that allows bills to be fast-tracked but requires a two-thirds majority to pass.
The office of Speaker Mike Johnson’s, R-La., noted that nothing has been decided yet, with a spokesperson saying only that the “Speaker’s office has not made any public statements on the bill.”
The bill is the product of a deal between House Ways and Means Chair Jason Smith, R-Mo., and Senate Finance Chair Ron Wyden, D-Ore., who announced it last week after months of negotiations.
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