Bipartisan $78 Billion Tax Deal Hits GOP Roadblock in US Senate

  • House passed $78 billion business, child tax breaks in January
  • Schumer weighs possible floor vote to force issue this spring
PIMCO's Cantrill on Wall Street's View of 2024 Election

Senate Republicans are poised to sink a $78 billion tax-cut package, gambling that they’ll win the majority in November and can push then for bigger breaks for business.

They also don’t want to hand President Joe Biden an election-year victory on the legislation, which includes both child and business tax breaks, lawmakers and aides have said.