08/08/2024

The Senate Fails to Advance Tax Package

The legislation needed 60 votes to pass and fell short in a 48-44 vote

A major tax package that pairs an expanded Child Tax Credit with pro-business tax breaks failed to advance in the Senate last week due to widespread Republican opposition.

The legislation needed 60 votes to pass and fell short in a 48-44 vote before the Senate adjourned until after Labor Day.

The House passed the bill overwhelmingly earlier this year. Sen. Mike Crapo (R-ID), ranking member of the Senate Finance Committee, said Senate Republicans continue to have concerns with the bill but reaffirmed his willingness to negotiate a child tax credit solution that a majority of Republicans can support.

“While Senate Republicans have also been accused of playing politics, the timing of today’s vote – coupled with the lack of meaningful engagement since January to reach a compromise – confirms that the strategy was always a take-it-or-leave-it proposition in the Senate,” Crapo said after the vote failed.

This article was provided to OSAP by ASAE's Power of Associations and Inroads.