Tax Alerts
House Passes Bipartisan Tax Relief Bill
Feb 1, 2024•Mary Kimmitt
The House of Representatives voted Wednesday, January 31, to pass a bipartisan tax bill that would benefit millions of taxpayers. The vote, which passed 357 to 70, approved a $78 billion tax package, known as the Tax Relief for the American Families and Workers Act of 2024 or H.R. 7024. H.R. 7024 would restore crucial research and experimentation (“R&E”) deductions for taxpayers as well as provide other needed business tax and small business relief.
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