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Will a new bipartisan tax package be introduced in the Senate by Dec 31, 2024?
3
Senate Republicans•Child Tax Credit•House•Democrats•Republicans•Senate•GOP•Mullin•Rick Scott•Sanders•Manchin•Senate Democrats•American
Resolution / Starting Odds
Yes • 50%
No • 50%
Publicly available congressional records and news reports
Story
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.
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Similar markets
Yes • 50%
No • 50%
New tax bill introduced • 25%
Amendments to existing tax bills • 25%
No major action • 25%
Other legislative actions • 25%
Child Tax Credit • 25%
Affordable housing • 25%
Tax cuts for working families • 25%
Other focus areas • 25%
Yes • 50%
No • 50%
National Sales Tax Passed • 25%
Income Tax Reform Passed • 25%
No Major Changes • 25%
Other Reform Passed • 25%
Yes • 50%
No • 50%
