Lawmakers Announce $78 Billion Plan to Expand Child Tax Credit, Revive Business Tax Breaks

Congressional negotiators announced Tuesday that they have reached an agreement on a $78 billion legislative package that would revive tax breaks for business investment and expand the child tax credit over a three-year period. The cost of the new tax breaks would be offset by ending a troubled federal program that provides credits for businesses that kept employees on their payrolls during the Covid-19 pandemic. The agreement was announced by House Ways and Means Committee Chairman Jason Smith

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