Schumer Advances Bipartisan Tax Package with Child Tax Credit Expansion Amid GOP Opposition Ahead of Key Vote.

Senate Majority Leader Chuck Schumer has moved to take up a bipartisan tax package, H.R. 7024, which includes an expansion of the Child Tax Credit and key business provisions favored by energy companies. The bill, negotiated by Finance Chair Ron Wyden (D-Ore.) and House Ways and Means Chair Jason Smith (R-Mo), passed the House in January but has faced opposition from Senate Republicans who have complained about retroactivity of the business provisions and the structure of the CTC. The first procedural vote on the legislation is expected to be held later this week to put GOP members on the spot.