{"id":2150219,"date":"2024-01-16T09:38:02","date_gmt":"2024-01-16T14:38:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-and-democrats-announce-600-billion-plan-for-child-tax-credit-and-key-business-breaks\/"},"modified":"2024-01-16T09:41:53","modified_gmt":"2024-01-16T14:41:53","slug":"gop-and-democrats-announce-600-billion-plan-for-child-tax-credit-and-key-business-breaks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-and-democrats-announce-600-billion-plan-for-child-tax-credit-and-key-business-breaks\/","title":{"rendered":"GOP and Democrats propose $600B plan for child tax credit and business breaks"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgop-and-democrats-announce-600-billion-plan-for-child-tax-credit-and-key-business-breaks%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2150219&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Lawmakers \u2063Reach Bipartisan Agreement to Reinstate Major Tax Provisions<\/h2>\n<p>Exciting news! Lawmakers have just announced \u2062a groundbreaking bipartisan \u2062agreement to reinstate some \u2064major expired tax provisions.\u2063 This includes a much-needed expansion of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">child tax credit<\/a> and a renewal of business investment deductions.<\/p>\n<p>Working together, Ways and Means Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Ron\u2064 Wyden (D-OR) have crafted this agreement, which is estimated\u200c to result in over $600 billion in tax cuts. That&#8217;s a significant boost!<\/p>\n<h3>What&#8217;s in\u2063 the Plan?<\/h3>\n<p>The plan focuses on making the child tax credit more generous. It does\u200d this by changing the calculation \u200cof the credit on a per child basis. \u2064But that&#8217;s not\u2064 all! The maximum refundable amount per child will also increase to $1,800 in tax\u200b year 2023, $1,900 in 2024, and $2,000 in 2025. That&#8217;s fantastic\u2064 news for families!<\/p>\n<p>But \u2063wait, there&#8217;s more! The credit will also\u200c be indexed\u2063 for inflation this year and in 2025. This ensures that \u2063families will continue to receive the support they need,\u200b even\u200b as the cost of living changes.<\/p>\n<p>And here&#8217;s the cherry on top: in exchange for\u2063 the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dr-fauci-schools-need-stimulus-bill\/\" title=\"Dr. Fauci: Schools Need Stimulus Bill\">expanded child tax credit<\/a>, some prized business tax deductions will be revived. \u2062It&#8217;s a win-win situation!<\/p>\n<p>Stay tuned for more updates on this breaking story. Exciting times \u200care ahead!<\/p>\n<p> <\/p>\n<h2> \u200dWhat business\u2064 tax deductions\u200b will be revived \u2063in exchange\u2063 for the expanded child tax credit<\/h2>\n<p><span>  Lawmakers \u2063Reach \u2062Bipartisan \u2064Agreement to Reinstate Major\u200d Tax Provisions<\/p>\n<p>Exciting news! Lawmakers have just\u200c announced \u2062a groundbreaking bipartisan \u2062agreement to reinstate some \u2064major expired \u2064tax provisions.\u2063 This includes \u2062a much-needed\u200c expansion of\u2062 the child tax credit and a renewal of business investment \u2062deductions.<\/p>\n<p>Working together, Ways and Means Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman\u200d Ron\u2064\u2062 Wyden (D-OR)\u2064 have crafted this agreement, which is estimated\u200c to result in over $600 billion in tax \u200dcuts. That&#8217;s a significant \u200bboost!<\/p>\n<p>What&#8217;s in\u2063\u200c the Plan?<\/p>\n<p>The \u200cplan focuses on making the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/burgum-backs-bigger-child-tax-credit-amid-broader-gop-family-push\/\" title=\"Burgum supports increased child tax credit in GOP's family-focused agenda.\">child \u200dtax credit<\/a> more\u200d generous.\u2062 It does\u200d this \u200bby changing the \u2064calculation \u200cof the credit on a per child basis. \u2064But that&#8217;s\u200b not\u2064 all!\u200d The maximum refundable amount per\u200b child will also \u2062increase \u2063to $1,800 in tax\u200b\u2063 year\u200c 2023, $1,900 in 2024,\u2064 and $2,000 \u200din\u200b 2025. That&#8217;s fantastic\u2064 news for families!<\/p>\n<p>But \u200b\u2063wait, there&#8217;s more! The\u200b credit\u200b will also\u200c be \u2064indexed\u2063 for inflation this year and\u2062 in 2025. This ensures that \u2063families will continue to receive the support \u200bthey need,\u200b even\u200b as the cost of living changes.<\/p>\n<p>And here&#8217;s the cherry on top: in exchange for\u2063 the expanded child\u2063 tax credit, some prized business tax deductions will be revived. \u2062It&#8217;s a win-win situation!<\/p>\n<p>Stay tuned\u200d for \u200bmore updates\u200d on this\u2064 breaking story. Exciting\u2062 times \u200care\u2063 ahead!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lawmakers reached a bipartisan deal to revive key expired tax provisions. The agreement, led by Chairman Jason Smith (R-MO) and Chairman Ron Wyden (D-OR), includes an increased child tax credit and renewed business investment deductions. Smith stated that the deal would have a significant impact<\/p>\n","protected":false},"author":2683,"featured_media":2315279,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2150219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2150219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2683"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2150219"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2150219\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2150219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2150219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2150219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}