WASHINGTON Both chambers are moving to reverse tax law changes that unintentionally subjected investment earnings of low-income children to the same tax rates paid by wealthier households.
The House, which under the Constitution must originate revenue bills, plans to act later this week on a broader retirement savings bill that would eliminate the full set of changes to the so-called kiddie tax made by Republicans in the 2017 tax overhaul.
But that didnt stop the Senate from making its views known on the topic, passing legislation Tuesday that would repeal the tax change for military survivors in Gold Star families.
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