this post was submitted on 01 Feb 2024
5 points (85.7% liked)

Neoliberal

62 readers
1 users here now

Free trade, open borders, taco trucks on every corner. Latest discussion thread: April 2024 **We in m/Neoliberal support:** - Free trade and competitive markets

founded 2 years ago
 

The House passed a $78 billion tax bill on Wednesday that boosts the child tax credit and reinstates business deductions that were rescinded during the Trump administration, sending the bipartisan, bicameral legislation to the Senate for consideration.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 2 points 11 months ago* (last edited 11 months ago) (1 children)

The bipartisan, bicameral tax bill would beef up the child tax credit by increasing the maximum credit per child from $1,600 to $2,000 through 2025, adjusting for inflation in 2024 and 2025.

Additionally, it calls for raising the ceiling for the low-income housing tax credit by 12.5 percent through 2025, lowering the threshold for bond-financed buildings to receive the low-income housing tax credit.

While not a perfect bill, this first provision here would put more money into the pockets of those families who need it most, and the second should make it easier/increase incentive for low-income housing (at least those financed with bonds).

[–] MindSkipperBro12 2 points 11 months ago

Better than most bills.