The House of Representatives voted Wednesday to approve a roughly $80 billion deal to expand the federal child tax credit that would make the program more generous, primarily for low-income parents, as soon as this year.
The bipartisan agreement was reached by Senate Finance Committee Chairman Ron Wyden (D-Ore.) and House Ways and Means Committee Chairman Jason T. Smith (R-Mo.), who worked for months to finalize a deal. The bill’s path to passage in the Senate remains uncertain, but it could give President Biden a partial victory on one of his top domestic economic policy priorities: bringing back something like the expanded child tax credit, a centerpiece of his 2021 American Rescue Plan.
