Senate Democrats seek to maneuver tax deal to the floor
Source: Roll Call
Posted March 15, 2024 at 6:00am
Some Senate Democrats are pushing to bring a popular House-passed $79 billion tax package to the floor without changes, as tax filing season draws short with little sign of a deal with Senate Republicans. Bringing the bill to the floor without a bipartisan agreement to limit debate would be a lengthy process, but could be feasible if Democrats are able to muster at least 60 votes in favor of the package. Another option would be to attach it to a bigger, must-pass vehicle, but that too would come with procedural pitfalls.
Senate Finance member Benjamin L. Cardin, D-Md., said he’s part of an effort to suss out whether there’s adequate support for the family and business tax break bill. “There’s a lot of interest to try to put up the House-passed bill as is. And I support that,” Cardin said Thursday. “I’m part of an effort to try to see whether we can get 60 votes to move the House bill as-is because — I have so many tax issues I want to see passed, and I would love to have an opportunity to do that — but if this bill gets opened up, we’re not going to get a tax bill.”
Sen. Michael Bennet, D-Colo., another Finance member, said he’d also like to see the measure come to the floor. “The more I hear constituents talking about it, the more I hear them say we should pass it,” he said. “I think it should go on the floor.” The bill, which sailed through the House on a 357-70 vote in January, has languished in the Senate as Republicans led by Senate Finance ranking member Michael D. Crapo of Idaho have pushed for changes. Senate Finance Chairman Ron Wyden, D-Ore., said he and Crapo are continuing to talk.
The bill would revive a trio of business tax deductions and expand the child tax credit, along with smaller provisions on housing, disaster relief and tax benefits for U.S. companies operating in Taiwan. Its price tag would be offset by ending the processing of the fraud-ridden, pandemic-era employee retention tax credit filings early.
Read more: https://rollcall.com/2024/03/15/senate-democrats-seek-to-maneuver-tax-deal-to-the-floor/
This is the bill that includes re-upping a limited version of the popular, pandemic-era expanded Child Tax Credits.
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