On the recordJuly 29, 2024
Mr. President, tonight, I am very happy to announce that I just filed cloture on the Tax Relief for American Families and Workers Act, a bill to expand the child tax credit, expand the affordable housing tax credit, help small businesses with the R&D credit, and lift half a million kids out of poverty. For the information of Senators, the step I take tonight sets up a cloture vote on Thursday. Mr. President, it is time to get this bill done right away. This bipartisan bill passed the House overwhelmingly, 357 to 70. We hope this week the Senate Republicans will join us. Democrats strongly support moving forward on this bill because it is filled with good news for our kids and small businesses and jobs and housing. For one, Democrats strongly support expanding the child tax credit because we know it will do immense good for tens of millions of families--so many kids. In fact, one of the very first things this majority did in 2021 was expand the child tax credit significantly under the American Rescue Plan, and it cut child poverty in close to half. That turned out to be an enormous success, but unfortunately that provision expired. We have a chance to help more kids get out of poverty--many more kids, millions of kids--through this important provision once again. The bipartisan tax package will be a boon for small businesses because it will reward them and other businesses for investing in R&D and help them pay for new equipment so they can compete against larger competitors.…





