Bloomberg Tax
Free Newsletter Sign Up
Bloomberg Tax
Welcome
Go
Free Newsletter Sign Up

Narrower Biden Agenda Will Force Tough Choices on Child Benefits

Feb. 2, 2022, 5:00 PM

Senate Democrats hoping to regain momentum on their stalled economic agenda will need to make major decisions on their approach to helping families, pitting a more generous child tax credit against other benefit programs.

Sen. Joe Manchin (D-W.Va.) continues to adhere to his stance that Democrats’ budget reconciliation package—which he described Tuesday as “dead” in its current form—should cost less and include fewer programs that last longer. With Senate Democrats and President Joe Biden indicating that there is broad consensus on alternative energy tax incentives, prescription drug price controls, and other health care provisions, there isn’t much room ...