The House of Representatives passed a $78 billion bipartisan tax-cut package aimed at providing relief to families and businesses.

The package includes an expansion of the Child Tax Credit and reinstates certain parts of the 2017 GOP tax cuts for businesses.

The bill has drawn opposition from various factions, including liberal Democrats, right-wing Republicans, and New York GOP members.

In the Senate, the bill requires 60 votes to pass and faces skepticism from GOP senators concerned about potential political impacts on President Biden's re-election prospects.

Senate leaders have not committed to a timeline for the vote, and the possibility of amendments remains open.

Sen. Mike Crapo, leading the GOP response, advocates for the bill to undergo committee review and seeks to remove a provision regarding the Child Tax Credit.

Despite hurdles, there is a sentiment of optimism for the bill's eventual passage in the Senate, with the proposed extensions lasting until the 2025 tax year.