House votes to expand child tax credit

House representatives on Wednesday voted 357-70 in favor of a bill that would increase the Child Tax Credit for millions of low-income families. The $78 billion package would introduce a refundable portion of the child tax credit that would increase gradually over the next three tax years, beginning with 2023. The bill would be in effect through 2025 if the Senate approves it.

What else is included in the package? The so-called Tax Relief for American Families and Workers Act would also temporarily restore business tax benefits for research, investment in equipment, and interest expenses. The bill also includes relief for people affected by natural disasters, and it would enhance the Low-Income Housing Tax Credit.

Who opposed the bill? A total of 23 Democrats and 47 Republicans voted against the measure. Rep. Nick LaLota, R-N.Y., and other New York Republicans opposed the bill because it did not raise the cap on state and local tax deductions. Rep. Tom Tiffany, R-Wis., said the package went too far in expanding welfare, while Rep. Linda Sánchez, D-Calif., said it would not benefit enough families.

Dig deeper: Read Leo Briceno’s report in The Stew about how Republicans and Democrats came together to craft the bill.