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What will be the next major legislative action taken by Senate on tax policy by December 31, 2024?
2
Resolution / Starting Odds
New tax bill introduced • 25%
Amendments to existing tax bills • 25%
No major action • 25%
Other legislative actions • 25%
Official Senate records and public announcements
Story
Senate Republicans Block Bipartisan Tax Bill Aimed at Renewing Child Tax Credit, $700 Tax Cut, 200,000 Homes
Aug 1, 2024, 07:27 PM
Senate Republicans have blocked a bipartisan tax bill that aimed to renew the Child Tax Credit, which would have provided financial support to working families. The bill, which had passed the House with significant support, sought to lift nearly half a million children out of poverty, increase affordable housing, and incentivize innovation. The proposed legislation would have offered a $700 average tax cut for working families with children and facilitated the construction of 200,000 affordable rental homes. Despite the potential benefits, the bill was opposed by Senate Republicans, who were accused of prioritizing politics over the needs of working families and small businesses. Senators Hassan, Warnock, Durbin, and Shaheen expressed their disappointment over the failed vote.
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National Sales Tax Passed • 25%
Income Tax Reform Passed • 25%
No Major Changes • 25%
Other Reform Passed • 25%
Passes with majority support • 25%
Fails with majority opposition • 25%
Stalemate with no vote • 25%
Not reintroduced • 25%
Increased Child Tax Credit • 25%
More affordable housing units • 25%
Additional business tax incentives • 25%
Other new provisions • 25%
Child Tax Credit Expansion • 25%
Affordable Housing Provisions • 25%
R&D Incentives • 25%
None of the Above • 25%
Hawley supports • 25%
Mullin supports • 25%
Rick Scott supports • 25%
All three oppose • 25%