Bipartisan tax bill passes the house: What happens next? has been saved
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Bipartisan tax bill passes the house: What happens next?
Part of the Tax News & Views podcast series
The House passed a bipartisan tax bill expanding child tax credits and reviving other business tax incentives, but the bill is already facing opposition in the Senate. Hear from Deloitte Tax policy leaders on the road ahead for this bill and what taxpayers can expect.
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Bipartisan tax bill passes the house: What happens next?
The House of Representatives has passed a tax bill addressing expired pieces of the Tax Cuts and Jobs Act, Child Tax Credit, disaster relief, and the employee retention credit. Despite its smooth passage in the House, the bill may face challenges in the Senate. Deloitte’s Tax Policy leaders Jon Traub and Anna Taylor discuss the possible paths forward for the bill and what it will mean for taxpayers:
I see three possible paths for Senator Schumer: one is to allow members to offer amendments on the floor; two is to ‘fill the tree,’ a procedural move to bypass amendments, and three—the more likely path at this point—to air-drop the tax agreement into a spending bill
—Jon Traub
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