Tax breaks

Speaker Mike Johnson will allow a vote on a $78 billion business and child tax break bill, siding with corporations over a group of Republicans who objected to the package negotiated with Senate Democrats.

A growing divide is emerging between Republicans and the business interests the GOP once unflinchingly championed.

The House Ways and Means Committee reported the text of the Tax Relief for Workers and Families Act after voting last week to advance the bipartisan bill.

Congress moved one step closer to enacting $78 billion in business and child tax breaks Friday, although election-year politics add risk to the legislation's prospects.

Businesses eager for a tax deal announced by two powerful U.S. lawmakers can't yet bank on the corporate breaks.

The chairs of Congress' two main tax committees announced a deal to extend a number of expired tax credits and tax breaks, including the expanded Child Tax Credit.

The failure of the leaders of the Ivy League universities to condemn antisemitism could affect their tax-exempt status, the chairman of the House Ways and Means Committee said.

Negotiators are nearing a bipartisan deal in time for many voters to receive the benefits during the current election year.

The New York governor called for a new tax break to promote affordable housing and increase support for fighting crime in New York City.

Businesses eager to see Congress revive expired research and investment tax breaks have reason for optimism that a deal could come together as soon as this month.