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CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.
It was a busy week in Congress on budgetary issues. On Thursday evening, Congress passed a continuing resolution to prevent an imminent government shutdown that would otherwise have occurred on January 20. The Chairs of the Senate Finance Committee and House Committee on Ways and Means also reached agreement on a three-year bipartisan framework to increase the Child Tax Credit and business deductions for research and development, capital expenses, and interest. In a bipartisan vote, the House Budget Committee approved a bill establishing a fiscal commission to make recommendations on both mandatory and discretionary spending that Congress would consider on an expedited basis.Trusted Insights for What’s Ahead®
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