The $78 billion bipartisan tax package that failed to clear a test vote in the Senate Thursday revealed some divisions between House and Senate Republicans that could spell trouble next year.
The package of business breaks and a more generous child tax credit was crafted by House Ways and Means Committee Chair Jason Smith (R-Mo.) and Senate Finance Chair Ron Wyden (D-Ore.) and passed in the House in January, but ultimately received little GOP support in the Senate.
Senate Republicans cited seeing a chance to get better leverage on a bill next year if they win control of the Senate ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.