Analysis: Child tax credit is the biggest thing since Social Security. For one year only. - News Summed Up

Analysis: Child tax credit is the biggest thing since Social Security. For one year only.


Republicans doubled the child tax credit to $2,000 per child with their massive tax cut bill in 2017, but they rejected this new expansion, which Democrats tucked into the Covid assistance bill they passed in 2021. "The payments may be monthly, but the impact of this child tax credit will undoubtedly be generational," she said. The child tax credit has existed for years and won bipartisan support, including from Rubio, who pushed to increase it as part of the 2017 GOP tax cuts. Many advocates for the expanded child tax credit, however, liken it to a child allowance or universal basic income program that supports most families in the US. According to the Social Security Administration, she "worked for three years under the Social Security program.


Source: CNN July 15, 2021 23:26 UTC



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