Lame-Duck Congress Eyes $100 Billion Tax-Cut Deal With Break for Business
- GOP opposes big expansion of child tax credit but seeks deal
- Willingness to compromise could suffer after bitter campaigns
The US Capitol in Washington, DC.
Photographer: Graeme Sloan/BloombergThis article is for subscribers only.
After Democrats spent the last two years pushing, with some success, to raise business taxes, they could end up striking a deal with Republicans by year-end on a roughly $100 billion tax-cut package.
Republicans -- who are expected to control the House as of January -- want tax breaks for private equity, manufacturers and businesses. For their part, Democrats want to expand the child tax credit, using their final weeks controlling both congressional chambers to reinstitute a policy they see as critical to reducing child poverty.