What is included in the Democrats’ plan for the child tax credit and the extension of the energy tax credit?
The House Ways and Means Committee has released new details on various aspects of the $ 3.5 trillion reconciliation bill, including those related to energy tax credits and the expanded child tax credit.
This bill comes after the passage of a trillion dollar infrastructure package in the Senate. The bill was negotiated between a bipartisan field of senators and the White House. This bill is a narrower piece of legislation than the American Jobs Plan, a vast set of infrastructure proposed by the Biden administration.
Many conservative Democrats and centrist Republicans worked together on the legislation after rejecting President Biden’s broad definition of infrastructure. The group chose to ditch elements of the plan focused on human infrastructure, which would have made targeted investments in the workers that fuel the economy.
Two of the most anticipated questions circulating around the reconciliation bill it would include an extension of the child tax credit, which should revert to its previous version after this year.