The US House of Representatives approved a $78 billion tax cut package in January, but the measure is now facing potential roadblocks in the Senate due to opposition from Republican lawmakers. The legislation addresses several key tax-related issues, including business tax credits and the child tax credit.

Yahoo Finance’s Senior Columnist Rick Newman breaks down the details, providing insights into why Republicans are positioning themselves against the bill and how the Biden administration could in-turn react.

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Editor’s note: This article was written by Angel Smith