"House and Senate negotiators have agreed on a roughly $78 billion framework for a package of tax benefits aimed at businesses and low-income families, according to a source familiar with the negotiations.
The two sides expect to roll it out this morning.

The question now is whether Senate Finance Chair Ron Wyden (D-Ore.) and House Ways and Means Chair Jason Smith (R-Mo.) can build enough support to get their deal through both chambers. It's iffy. More on that below.
First, the details. Here's [some of] what's expected to be in the proposal, according to the source.

Businesses: The agreement would bring back full, upfront deductions for domestic research and development costs along with bigger deductions for businesses' interest expenses and purchases of machinery and equipment — all through 2025. It's also expected to increase immediate deductions that smaller businesses can take for buying equipment and machinery, and raise the threshold to $1,000 for sending tax forms for payments to certain non-employees.

Child tax credit: The deal would gradually raise the maximum child tax credit to $2,000 for families who owe less than that in taxes. It would also allow low-income families with multiple children to phase in eligibility for more benefits faster, and let families use the previous year's income to qualify for benefits in 2024 and 2025. In a broader change, the child tax credit's maximum benefit would be tied to inflation, with a potential increase from $2,000 to $2,100 likely in 2025.

Housing: The low-income housing tax credit — which incentivizes developers to build affordable rental units — gets a boost in the deal, restoring a higher credit allocation to states and lowering the bond-financing threshold."