Schumer Files Votes on Smith-Wyden Tax Bill

Majority Leader Chuck Schumer (D-NY) has scheduled a procedural vote on a bipartisan package of family and business tax provisions before the Senate gavels out for August. The Tax Relief for American Families and Workers Act, otherwise known as the Smith-Wyden tax bill, passed the House with strong bipartisan support earlier this year but is not expected to meet the 60-vote threshold needed to advance given the ongoing disagreements. In particular, several Senate Republicans have raised concerns about the Child Tax Credit (CTC) provisions, while some Democratic senators have argued that the family tax portion of the bill does not go far enough. As such, the move by Leader Schumer is largely viewed as a messaging exercise to give both parties some talking points on tax in the final weeks of the summer campaign.