Another powerful House chairman struck closer to President Joe Biden, vowing to send a criminal referral asking asking prosecutors to charges first son Hunter Biden with lying to Congress.
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Congressional negotiators from the Senate and House of Representatives announced a deal on Tuesday to increase the child tax credit and negotiate a new bilateral tax treaty with Taiwan, among other matters.
The child tax credit was first enacted in 1997 to provide parents with greater funds to care for children under the age of 17 and was expanded in 2021 under the American Rescue Plan Act, though that expansion expired in 2022 and has not been reauthorized. The new deal — known as the “The Tax Relief for American Families and Workers Act of 2024” — reached between Democrats and Republicans in Congress will change the way the tax credit is calculated, increase the credit every year until 2025 and index it to inflation, according to a technical summary of the plan published by the House Ways and Means Committee.
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The sweeping tax evasion indictment brought by federal prosecutors against Hunter Biden in California vindicates the testimony of two IRS whistleblowers while leaving one tantalizing question unanswered: how did the first’s son transfers of funds and profligate spending intersect with Joe Biden, if at all?
IRS whistleblowers Gary Shapley and Joseph Ziegler say they weren’t allowed to pursue evidence that might answer that question. But lawmakers pursuing an impeachment inquiry in Congress might just get the chance.
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Lawmakers investigating reports that the IRS destroyed tens of millions of taxpayer records say the federal tax agency is not cooperating with the investigation.
Ways and Means Committee Chairman Jason Smith, R-Mo., and Oversight Subcommittee Chairman David Schweikert, R-Ariz., sent a letter to IRS Commissioner Daniel Werfel demanding he comply with the documentation request.
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