Lawmakers are working on a possible vote on the federal budget by the end of the week. They could hold negotiations over the expanded child tax credit — and possibly bring it back.
That is a pass that has low odds of actually being completed, but you try it anyway because, in theory, it could work.However, lawmakers are attempting a Hail Mary pass nonetheless with negotiations over the expanded child tax credit — and possibly bringing it back.Parents no doubt remember it. The expanded child tax credit existed in 2021, but when the calendar flipped to 2022, it went away.
A number of conservatives — and even one moderate Democrat — had concerns that it may have been too generous and was causing inflation.Parents got $300 per child if the child was under the age of 6.The numbers are not out yet for this year, but many expect child poverty to rise because this benefit went away.Some lawmakers on Capitol Hill are trying their own version of a Hail Mary by sneaking a version of the expanded child tax credit back into law by including it in the federal budget.
Group 1 wants the old expanded child tax credit back with no changes. That group consists mostly of Democrats. Group 2 doesn't want the benefit back at all over cost concerns. That group consists of conservatives.That group consists of Democrats and Republicans, which is why there is a slim chance this passes.Another issue is income requirements.All of this is expected to be decided this week. The new Congress takes over on Jan. 3.
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