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A bill to expand the child tax credit will get a vote in the House as soon as this week. ... Crapo told NBC News he isn't ready to support the bill and wants changes to it, though he declined to ...
A single parent with two children, who earns $18,000 as a home health aide, would get a credit of $1,800 per child in the first year for each child, up $1,275 over current law.
The bill would incrementally raise the amount of the credit available as a refund, increasing it to $1,800 for 2023 tax returns, $1,900 for the following year and $2,000 for 2025 tax returns.
The House voted on Wednesday evening to pass a $78 billion bipartisan tax package that would temporarily expand the child tax credit and restore a number of business tax benefits.
If passed, the bill would raise the refundable portion of the Child Tax Credit to $1,800 per child in tax-year 2023, $1,900 per child in 2024 and $2,000 per child in 2025. The values would adjust ...
Currently, the child tax credit gives families a $2,000 discount on their tax bill for every child under the age of 17 in their care. Families that pay less than $2,000 in income tax get a smaller benefit, and parents who are out of the workforce get none. Harris has made expanding the tax credit central to her campaign's messaging on the economy.
But the bill does face opposition from a few corners, including liberal Democrats who object to the business tax breaks, right-wing Republicans who took issue with the child tax credit policy and ...
WASHINGTON — The House Ways and Means Committee voted 40-3 on Friday to approve a bipartisan tax package that includes an expansion of the child tax credit and a series of breaks for businesses ...