WASHINGTON (AP) -- A divided Congress has reached agreement on a $1.1 trillion spending bill to fund the government for the 2016 budget year and extend $680 billion in tax cuts for businesses and individuals. President Barack Obama is expected to sign the legislation once Congress passes it. Here are the highlights:
House Speaker Paul Ryan of Wis. speaks at a news conference on Capitol Hill in Washington, Wednesday, De. 16, 2015, following a GOP meeting. Congressional leaders girded to push a Christmas compromise on tax cuts and spending through the House and Senate by week's end after Republicans and Democrats reached agreement on a legislative package extending dozens of tax breaks for businesses and families and financing 2016 government operations. (AP Photo/Andrew Harnik)
WASHINGTON (AP) -- A divided Congress has reached agreement on a $1.1 trillion spending bill to fund the government for the 2016 budget year and extend $680 billion in tax cuts for businesses and individuals. President Barack Obama is expected to sign the legislation once Congress passes it. Here are the highlights:
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TAXES
—Family tax credits. Permanently extends recent changes to the $1,000 child tax credit that make it refundable to families with little tax liability; makes permanent a $2,500 college tuition tax credit and a more generous credit for low-income working families.... Read More: