Thu. Jun 20th, 2024

GOP senator doesn’t want to pass a tax bill because it could make Biden ‘look good’

By 37ci3 Feb1,2024

WASHINGTON — Sen. Chuck Grassley, R-Iowa, cast doubt on Wednesday’s bipartisanship tax accountsaying he could President Joe Biden to “look good” and increase the Democrats’ chances of taking the White House in the 2024 elections.

Grassley said Biden’s re-election could hurt Republicans’ hopes of extending tax cuts under Trump.

“Passing a tax bill that makes the president look good — sending the checks before the election — means he can get re-elected and then we won’t extend the tax cuts in 2017,” Grassley told a reporter. The bill does not include vouchers for Americans; it includes a tax credit.

A 2021 child tax credit include monthly checks for eligible parents, but they are absent from the newly negotiated bill. The Republican-controlled House Ways and Means Committee a statement under the legislation last week, the Biden administration would be “expressly prohibited” from “manipulating the bill’s tax relief in an attempt to send politically timed refund checks.”

Grassley, who sits on the Senate Finance Committee and was previously its chairman, added that the committee does not consider the bill until it passes the House.

“There is some disagreement on whether the bill violates the strategy for 2025 — an extension of the 2017 tax bill,” he said. HuffPost and Semaphore. “And all these are unanswered questions. “I don’t think we’ll pay much attention to it until something passes the House.”

Asked about his comments, a Grassley spokesman said in an email: “As Senator Grassley noted in his response to questions today, the bill has not yet passed the House and therefore members of the Senate Finance Committee have not had a chance to review it. . As for any questions about the bill’s provisions and substance, Grassley noted that “those are all unanswered questions” until the bill passes the House.

The spokesman added that Grassley “looks forward to providing input” when the Finance Committee rate hike is scheduled.

The White House and the Biden campaign did not immediately respond to requests for comment.

Grassley made the comments ahead of an expected House vote to pass the bill. Congressional leaders announced this month great tax dealif passed, it would expand the child tax credit and provide certain tax breaks for businesses.

The $78 billion package would raise the refundable child tax credit cap of $1,600 and adjust for inflation while increasing refundable child tax credits. It would also restore some tax cuts passed under the Trump administration that have expired.

The bipartisan deal was announced by House Ways and Means Committee Chairman R-Mo. It was forged between Jason Smith and Senate Finance Committee Chairman Ron Wyden, D-Ore., who chaired the respective tax-writing panels.

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By 37ci3

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