(Washington, DC) — Congress is announcing a bipartisan deal to expand the child tax credit and create a series of tax breaks for businesses. The deal is between Missouri Republican Jason Smith and Oregon Democrat Ron Wyden and ends months of negotiating.
It will enhance refundable child tax credits to try to provide relief to struggling families and those with multiple children. It’ll also raise the tax credit’s refundable cap and adjust it for inflation.
In a statement, Smith said American families will benefit from this agreement that provides greater tax relief and creates jobs. Wyden said fifteen million kids from low-income families will now be better off because of this deal.
