America economy An unexpected fiscal boost is expected if lawmakers back a deal that could deliver $70 billion worth of tax cuts for businesses and families.
Congressional negotiators are in talks to renew the expired business tax credit and expand the child tax credit, with both sides on a 50-50 split. The proposal would have to pass Congress, where the country is deeply divided. finance That comes as some Republican lawmakers are pushing for deep spending cuts to avoid another government shutdown on Jan. 19, when temporary funding expires, and again on Feb. 2.