Tax deal likely much more expensive than official estimate, experts warn ...Middle East

A tax deal that includes business deductions and a bump in the child tax credit could come to a vote in the House as soon as this week. But the deal's $78 billion price tag, which is covered by the cancellation of a different business tax credit, likely obscures the bill’s true cost in the hundreds of billions of dollars. The business breaks in the deal, which allow businesses to pay less in tax now and more in the future, are likely to be extended before the tax code resets at the end of 2025. That means the future revenue owed to the government and currently factored into estimates may never come in, and the longer-term deficit could balloon as a result of the deal. If just two

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Tax deal likely much more expensive than official estimate, experts warn ...Middle East

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