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The bipartisan tax deal charade

Posted on AllSides January 18th, 2024
From The Right

An agreement was reached this week to restore tax breaks for businesses and to increase child tax credit benefits for lower-income families. The deal was negotiated by Sen. Ron Wyden (D-OR), chairman of the Senate Finance Committee, and congressman Jason Smith (R-MI), chairman of the House Ways and Means Committee. The legislators say the bill would cost $78 billion.

That figure bears no relationship to reality.

Under the tentative agreement, the tax breaks and the expanded child tax credits would expire at the end of 2025. That early expiration date is the only reason why the cost...

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