In a recent development, senior congressional correspondent Chad Pergram reports that President Biden would require authorization from Congress to engage in war and strike Iran. House Speaker Mike Johnson, a Republican from Louisiana, has expressed his support for a bipartisan tax deal that is scheduled for a vote later today. The proposed legislation, known as the Tax Relief for American Families and Workers Act, not only aims to revive conservative pro-growth tax reform but also puts an end to a wasteful COVID-era program, saving taxpayers tens of billions of dollars.
Chairman Jason Smith of the House Ways & Means Committee and Chairman Ron Wyden of the Senate Finance Committee have been working together to negotiate this bill. Their efforts seek to temporarily expand the child tax credit and reinstate crucial tax deductions for small businesses, particularly for research and development conducted within the United States. However, this bipartisan agreement has faced criticism from both conservative and moderate Republicans, albeit for different reasons.
Some conservative Republicans argue that the bill’s child tax credit may be accessible to illegal immigrants, a claim vehemently denied by Chairman Smith. On the other hand, moderate Republicans, especially those representing suburban areas outside major cities like New York City and Los Angeles, are disappointed that the bill does not address the state and local tax (SALT) deduction caps. They believe this issue is critical for their swing district constituents and could impact House Republicans’ chances of maintaining their narrow majority in the upcoming November elections.
Both factions within the Republican Party are also frustrated with House GOP leaders’ decision to bring the tax bill up for a vote under suspension of the rules. This procedural maneuver allows the legislation to bypass a committee vote and a procedural “rule” vote, in exchange for lowering the threshold needed for passage from a simple majority to two-thirds. This move comes after Freedom Caucus members utilized rule votes multiple times during this Congress to obstruct GOP priorities as a form of protest against Republican leadership’s decisions.
Despite these internal disagreements, the tax bill is expected to pass with comfortable bipartisan support. In addition to facing criticism from Republicans, the legislation has also come under scrutiny from progressives who argue that the provisions related to the child tax credit do not go far enough. Notably, a group of four New York Republicans threatened to sabotage a procedural vote for an unrelated GOP-led measure due to the SALT exclusion. However, sources confirm that they have since secured a commitment from Speaker Johnson to bring a separate, targeted SALT bill to the floor in the near future.
As the political landscape continues to evolve, Elizabeth Elkind, a reporter for Digital, closely monitors Congress and the intersection of Artificial Intelligence and politics. With previous bylines at Daily Mail and CBS News, Elkind provides valuable insights into the latest updates from the 2024 campaign trail, exclusive interviews, and more political content.
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