WASHINGTON — The House passed a $54 billion tax package Wednesday that Democratic backers said would help relieve dependence on imported oil while easing the economic strain on parents, homeowners and businesses.
The wide-ranging legislation passed 263-160, sent to the Senate and an uncertain future. Most Republicans opposed the bill because it is paid for by requiring some corporations with offshore offices to pay more taxes; it also doesn’t address shielding taxpayers from the alternative minimum tax. The White House has threatened a veto.
The measure renews dozens of targeted tax breaks that have expired or will expire soon and provides new tax relief by expanding for a year the refundable child tax credit available to lower-income families. It allows, for one year, a new deduction of property taxes for non-itemizers, worth up to $700 for a couple.
