Rep. Houlahan Discusses Bipartisan Tax Package
February 1, 2024
The bill addresses six major issues: • Child Tax Credit – increasing the (1) overall amount that is refundable each year beginning in 2023 and (2) maximum $2,000 Child Tax Credit for inflation for tax years 2024 and 2025 • Business Tax Provisions – temporarily restoring various tax breaks through 2025 to boost American research, innovation, and competitiveness • Low-Income Housing Credit – increasing the amounts that states may receive each year for Low-Income Housing Tax Credits by 12.5%, which...