The child tax credit has long enjoyed bipartisan support, though Republicans have been wary of making it fully refundable.
Though its prospects are slim, the coalition's priority is making the credit more refundable so more of the lowest-income families can qualify, as they did last year thanks to thetemporary expansion of the credit. Nearly 19 million kids won't receive the full $2,000 benefit this year because their parents earn too little, according to a Tax Policy Center estimate.
While Bennet would like the credit to become fully refundable so all low-income families could receive the entire benefit, regardless of their earnings, he said he's keeping an open mind. The child tax credit has long enjoyed bipartisan support, though Republicans have been wary of making it fully refundable because they are concerned it could discourage parents from working.
Also, it made the credit fully refundable so the lowest-income families could qualify. And it sent half the credit to families in monthly installments of up to $300 from July through December last year to help them cover expenses. They could claim the other half on their 2021 tax returns. While the monthly payments were being delivered, food insecurity dropped and families said they could more easily afford their household expenses, said Elaine Maag, senior fellow at the Tax Policy Center.
For Luz and Rafael Garcia, the $750 monthly installments they received for their three children last year meant that the couple could pay their bills without having to repeatedly check their bank balance to make sure they had enough funds.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
With majority at stake, Pa. House Republicans file suit to block Democratic-scheduled special electionsDemocrats are eager for the contests to take place and presumably cement their majority, while Republicans seek to maintain some measure of power.
Leer más »
Democratic lawmakers make last-ditch effort to enhance child tax credit | CNN PoliticsBuoyed by the steep drop in child poverty last year, a group of Democratic lawmakers and progressive advocates are pushing hard to restore at least part of the enhanced child tax credit that stabilized many families' finances in 2021. Its prospects are slim.
Leer más »
Democratic lawmakers make last-ditch effort to enhance child tax creditThe child tax credit has long enjoyed bipartisan support, though Republicans have been wary of making it fully refundable.
Leer más »
Democratic lawmakers make last-ditch effort to enhance child tax creditThe child tax credit has long enjoyed bipartisan support, though Republicans have been wary of making it fully refundable.
Leer más »
Democratic lawmakers make last-ditch effort to enhance child tax creditThe child tax credit has long enjoyed bipartisan support, though Republicans have been wary of making it fully refundable.
Leer más »
Republicans struggle in the Southwest as Latino voters stick with DemocratsIn Nevada, Arizona, New Mexico, and Colorado, Latinos have sided with Democrats, and that has helped power the party's gains across a region where the Latino population has grown.
Leer más »