Staff Reports
The lefties are at it again! Those sneaky Democrats and their pals in the Senate have struck a deal to reinstate major tax provisions, and the Ways and Means Chairman Jason Smith (R-MO) had to get in on the action just to rein them in a little bit. These tax provisions include a big expansion of the child tax credit, which just means more handouts to people who already don’t pay their fair share!
GOP and Democrats announce $600 billion plan for child tax credit and key business breaks https://t.co/3w7HQSDJFa https://t.co/3w7HQSDJFa
— Washington Examiner (@dcexaminer) January 16, 2024
But don’t worry, folks, because Jason Smith is here to save the day. He worked with Senate Finance Committee Chairman Ron Wyden (D-OR) to make the deal a little less devastating. They managed to craft an agreement that, according to Smith, would provide over $600 billion in tax cuts. That’s right, they managed to trim it down a bit, but it’s still a hefty amount of our hard-earned tax dollars.
Sure, there’s talk of expanding the child tax credit to make it more generous, but who’s going to foot the bill for all that generosity? And why should we be rewarding people for having kids anyway? It’s not the government’s job to play mommy and daddy. The plan even includes increasing the maximum refundable amount per child to $1,800 in tax year 2023, $1,900 in 2024, and $2,000 in 2025. It’s like they’re handing out free money like candy on Halloween!
Of course, to make this sweet deal for families, they had to throw in some business tax deductions. It’s the same old story with these government giveaways — they can’t just give without taking from someone else. It’s a classic bait and switch, folks. And to add insult to injury, they’re also indexing the credit for inflation. It’s like they’re just coming up with more creative ways to spend our money without any consideration for hardworking Americans who actually pay their taxes.
But hold on to your hats, because Senator Wyden claims that this plan will promote innovation and help us compete with China. Really? Giving out more free money is going to make us more competitive? It’s laughable! And while the Democrats have been trying to push for more handouts since the child tax credit expansion expired, Republicans, on the other hand, have been trying to hold the line. They understand that it’s not the government’s job to be Santa Claus all year round.
Now, don’t get too excited just yet; this deal still needs to be pushed through before you start planning how to spend your tax credit windfall. But rest assured, the fight is far from over, and those conservatives will be the voice of reason in the battle against these out-of-control spending habits of the left.
