Senate to vote on $50M tax credit bill

The Senate on Monday voted to approve a $50 million tax credit for beachfront property owners, with Democrats joining Republicans in voting to reject the measure.

The Senate approved the measure after a day of debate.

The House is expected to take up the bill Wednesday.

The legislation would allow the tax credit to be applied to owners of up to five vacation properties, with a cap of $50,000 per property.

The measure also would extend a $10 million tax break to beachfront businesses that are required to be located on property designated for the public.

The Senate also approved $12 million in other funding to combat the spread of the coronavirus, including a $1.2 billion boost to state and local governments and $1 billion in the National Institutes of Health to support research into new treatments.

On Monday, House Speaker Mike Turzai, D-Wash., called the measure a “huge, huge victory.”

The Senate voted 10-3 on Monday, along with Democrats.

Democrats are hoping that it will lead to more votes in the House.

“The Senate has spoken,” Turzai said, referring to the vote.

“Now we need to get back to work.”

Democrats are also pressing House Speaker Nancy Pelosi, D.C., to approve the bill.

“It is an important first step,” Pelosi said on Monday.

“This bill does provide tax relief to beachgoers, but it is also an important tool to help our nation fight the coronovirus pandemic.”

The House will likely take up a similar bill Tuesday, but Republicans are likely to block any bill that includes the tax credits.

Democrats are hoping to pass their tax credits package this week, which they said they expect will be included in a joint budget resolution that Congress will then take up in January.

Democrats also are calling on Republicans to pass a bill that would include a $30 billion supplemental unemployment insurance program, which has been proposed as a bipartisan solution to the federal unemployment crisis.