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Senate Republicans Block $78 Billion Bipartisan Tax Package in 48-44 Vote

Aug 1, 2024, 06:53 PM

Senate Republicans have blocked a $78 billion bipartisan tax package aimed at expanding the Child Tax Credit and providing tax breaks for businesses. The bill, which passed the House with a 357-70 vote, sought to expand the Child Tax Credit to benefit 16 million children and lift 500,000 out of poverty. It also included provisions to support the construction of 200,000 affordable housing units and offer tax incentives for companies with significant capital and domestic research expenditures. Despite widespread support from Democrats and some Republicans, the bill failed in the Senate with a 48-44 vote. Three GOP senators—Hawley, Mullin, and Rick Scott—broke ranks to support the measure, while Sanders and Manchin voted against it. The opposition argued that the package was not ready for prime time and that a better deal could be negotiated next year. Senate Democrats criticized the GOP for putting politics over the needs of American families and businesses.