Larson Votes to Provide Tax Relief for Connecticut Families and Small Businesses

Washington, D.C. - Today, Rep. John B. Larson (CT-01) voted for H.R. 7024, bipartisan legislation that will expand the Child Tax Credit and restore research and development expensing, among other critical tax provisions.  

“Today’s vote ensures that families and small businesses in Connecticut and across the nation will receive critical tax relief just as filing season begins,” said Larson. “I introduced legislation to restore the research and development tax deduction with my Republican colleague, Rep. Ron Estes, after speaking with small businesses in my District about how its elimination in the 2017 Tax Law made it more difficult to invest in technologies and put thousands of jobs at risk. I consider it vitally important to restore the R&D tax deduction to allow our nation’s businesses to innovate as we remain in direct competition with China. I thank Rep. Estes for his partnership in moving this critical legislation forward to boost economic competitiveness and support a thriving job market that creates good paying jobs across our state and the rest of the nation. 

“While I am disappointed that the Child Tax Credit does not match what we accomplished in the American Rescue Plan, 16 million low-income families will benefit from this tax cut, including 119,000 right here in Connecticut,” Larson continued. “I will continue to work with my colleagues, especially the lead sponsor, Rep. Rosa DeLauro, to deliver the full Child Tax Credit our nation’s children deserve.”