The bill, advocated for by activist groups and Democratic senators for months, is likely to be defeated due to opposition from some Republicans.
Senate Majority Leader Chuck Schumer (D-N.Y.) announced on July 30 that a bill to expand the Child Tax Credit would be voted on in the Senate on Aug. 1 before the August recess.
The Tax Relief for American Families and Workers Act aims to increase the refundable portion of the Child Tax Credit to $1,800 for the 2023 tax year, with incremental increases in the following years. It also allows parents to claim a credit for each qualifying child and makes adjustments for inflation.
The bill passed the House with bipartisan support, but Republican opposition in the Senate has stalled its progress. Senator Mike Crapo has expressed concerns about certain provisions of the bill.
Despite attempts to negotiate, the bill’s fate remains uncertain. Some Republican senators have indicated they will support the bill despite reservations.
The bill also includes changes to business tax provisions, legislation related to Taiwan, assistance for residents affected by a train derailment, and measures to combat COVID-19 tax fraud. Please rewrite this sentence.
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