Divided Congress Reaches , Pro-Family Deal , to Boost Child Tax Credit.br On January 16, Congress announced a bipartisan br deal that will expand the child tax credit andbr introduce a number of tax breaks for businesses.br NBC reports that the $78 billion tax agreement ends months of negotiations meant to find common ground amid a divided Congress.br American families will benefit br from this bipartisan agreement br that provides greater tax relief, br strengthens Main Street businesses, br boosts our competitiveness br with China, and creates jobs, Jason Smith, (R-Mo) House Ways and Means Chair, via NBC.br We even provide disaster relief br and cut red tape for small businesses, br while ending a COVID-era program br that’s costing taxpayers billions in fraud, Jason Smith, (R-Mo) House Ways and Means Chair, via NBC.br The deal would expand refundable child tax credits in br an attempt to provide some relief for families br struggling financially and those with multiple children.br The agreement will also lift the br tax credit's $1,600 refundable cap, br while also adjusting for inflation.br According to an analysis by the Center on br Budget and Policy Priorities, the deal will benefit br approximately 16 million children in low-income families. .br The expansion would meaningfully reduce br child poverty. In the first year, the expansion br would lift as many as 400,000 children br above the poverty line. 3 million more br children would be made less poor as their br incomes rise closer to the poverty line, Center on Budget and Policy Priorities, via NBC.br The expansion would meaningfully reduce br child poverty. In the first year, the expansion br would lift as many as 400,000 children br above the poverty line. 3 million more br children would be made less poor as their br incomes rise closer to the poverty line, Center on Budget and Policy Priorities, via NBC.br Senate Finance Chair Ron Wyden hailed the br pro-family legislation and the divided Congress' br ability to work together to get it approved. .br Fifteen million kids from low-income br families will be better off as a result br of this plan, and given today’s miserable br political climate, it’s a big deal to have br this opportunity to pass pro-family br policy that helps so many kids get ahead, Ron Wyden, (D-Ore) Senate Finance Chair, via NBC.