Senate Republicans blocked a $78-billion tax cut package aimed at helping businesses and low-income families.
Senate Republicans Block $78 Billion Tax Cut Package, Democrats Fall Short of 60 Votes
Senate Republicans have stopped a $78-billion tax cut package meant to help businesses and low-income families. The Democrats needed 60 votes to move forward but only got 48, with 44 against. Three Republicans Josh Hawley, Markwayne Mullin, and Rick Scott voted with the Democrats. Senate Majority Leader Chuck Schumer criticized Republicans for blocking a bill that had already passed the House with strong support from both parties.
(photo: CNN)
Tax Package Fails to Pass Senate, Despite Bipartisan Efforts
The tax package included big benefits for U.S. companies with large investments in research and development, which would have helped major companies like Boeing, General Motors, and Apple. It also aimed to increase the child tax credit for low-income families and adjust it for inflation starting in 2024. Despite strong lobbying from 250 business groups, including the U.S. Chamber of Commerce and the Business Roundtable, the bill was blocked by Senate Republicans.
Schumer expressed disappointment but said he hopes to try again after the Senate’s month-long break. He believes pressure from voters might change some Republicans’ minds. Meanwhile, Senator Mike Crapo suggested waiting until next year when the 2017 Trump tax cuts expire hoping Republicans will control both the Senate and the White House. The failure of the bill shows the ongoing political battles as both parties try to gain support before the upcoming elections, according to the report of International Business Times.
