In the GOP’s race to have tax bill on the table before Christmas, they have decided to allow the child tax credit.
Yesterday, Washington Post first reported reported that Senator Marco Rubio claimed he would not vote in favor for the final tax bill if they did not expand the child tax credit. Without his vote, it is very possible that the bill would not pass, and there would not be a margin of error.
However, this is no longer a worry, as Republicans increased the amount of refundable child tax credit from $1,100 to $1,400.
At this point, it is still unclear as to whether the increase was enough to satisfy Senator Rubio or not.
A spokeswoman for Rubio said they had not yet seen the text of the bill, but warned that unless the percentage of the refundable credit is significantly higher, Rubio’s position would remain the same.
Members of the House-Senate conference committee are gathering Friday morning to decide whether to sign onto the conference report on the tax bill.
The text of the compromise legislation is expected to be released later Friday.
If the tax bill is passed by December 25, then we will see larger checks as early as February!
Trump said on Wednesday, “If Congress sends me a bill before Christmas, the IRS – this is breaking news – has just confirmed that Americans will see lower taxes and bigger paychecks beginning in February, just two short months from now.”
— FOX Business (@FoxBusiness) December 13, 2017
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