Business Tax Break Framework Unveiled by US Lawmakers (1)

Lawmakers unveiled a framework for a long-sought tax package Tuesday that pairs renewed business breaks with an expansion of the child tax credit, leaving open the possibility the legislation could soon be ready to get tacked onto a larger legislative package.

The agreement struck between House Ways and Means Committee Chair Jason Smith (R-Mo.) and Senate Finance Committee Chair Ron Wyden (D-Ore.) details a roughly $80 billion proposal evenly split between the business tax benefits and an expanded child credit, according to an office involved in the talks. The package also would extend a tax deduction for disaster victims and ...