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The United States federal child tax credit (CTC) is a partially-refundable [a] tax credit for parents with dependent children. It provided $2,000 in tax relief per qualifying child, with up to $1,400 of that refundable (subject to a refundability threshold, phase-in and phase-out [b]). In 2021, following the passage of the American Rescue Plan ...
The current child tax credit of up to $2,000 per child is set to expire in 2025. Because it is not fully refundable, 24 million low-income children receive a smaller credit than middle-class families.
In 2021, the Child Tax Credit increased from $2,000 per child to $3,000 per child for children ages 6 to 17 and $3,600 per child for children under 6. The plan also raised the age limit from 16 to 17.
In 2021 alone, the temporary child tax credit helped child poverty decrease by 46%, lifting 716,000 Black, 820,000 white, and 1.2 million Latino children and families out of poverty.
WASHINGTON — The House voted Wednesday night to pass a $78 billion tax package that includes an expansion of the child tax credit, sending it to the Senate, where its path is uncertain. The ...
The Child Tax Credit Improvement Act of 2014 (H.R. 4935) is a bill that would amend the Internal Revenue Code with respect to the child tax credit. The bill would require taxpayers claiming the child tax credit to provide their Social Security Numbers, a change that would prevent undocumented immigrants from claiming the credit. [1]
A nearly $80 billion bipartisan tax deal, which combines a temporary expansion of the child tax credit with long-sought provisions for business, made a significant step forward Wednesday evening ...
The Tax Relief for American Families and Workers Act is a $78 billion package that would expand the Child Tax Credit (a tax benefit that provides money to parents), restore business tax breaks, increase federal funding for states to encourage the development of low-income housing, deepen economic ties between the United States and Taiwan and end a pandemic-era employer tax benefit.
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