Washington DC
New York
Toronto
Distribution: (800) 510 9863
Press ID
  • Login
Binghamton Herald
Advertisement
Sunday, May 31, 2026
  • Home
  • World
  • Politics
  • Business
  • Technology
  • Culture
  • Health
  • Entertainment
  • Trending
No Result
View All Result
Binghamton Herald
No Result
View All Result
Home World

New, expanded child tax credits are back — and they may actually pass Congress

by Binghamton Herald Report
January 26, 2024
in World
Share on FacebookShare on Twitter

When the child tax credit first started, back in 1997, it was a small bonus that mainly helped middle-class families.

Taxpayers could take $400 off their income taxes for each child under 17. That helped families with decent incomes and several children, but did nothing for the large number of taxpayers who don’t owe any income tax — currently about 40% of households.

Starting in 2001, advocates for low-income families, led by Rep. Rosa DeLauro of Connecticut, pushed through a change to allow families to get some of the money even if they don’t owe any taxes. That’s called refundability in tax jargon, and it’s key to making the tax credit work as an antipoverty measure.

Their argument was that if the federal government was going to use the tax code to boost families with children, it should focus on those most in need.

Over the last two decades, DeLauro and others, including former Speaker Nancy Pelosi and Sens. Michael Bennet of Colorado, Sherrod Brown of Ohio and Cory Booker of New Jersey, made expanding the credit a top priority for congressional Democrats.

Step by step, they got provisions into each big tax bill that expanded the amount of the credit — now $2,000 per child — and the amount that could be refundable. In some of those efforts, Democrats struck alliances with Republicans, including Sens. Marco Rubio of Florida and Mitt Romney of Utah, who have seen the tax credit as a pro-family measure.

When the child tax credit first started, back in 1997, it was a small bonus that mainly helped middle-class families.

Taxpayers could take $400 off their income taxes for each child under 17. That helped families with decent incomes and several children, but did nothing for the large number of taxpayers who don’t owe any income tax — currently about 40% of households.

Starting in 2001, advocates for low-income families, led by Rep. Rosa DeLauro of Connecticut, pushed through a change to allow families to get some of the money even if they don’t owe any taxes. That’s called refundability in tax jargon, and it’s key to making the tax credit work as an antipoverty measure.

Their argument was that if the federal government was going to use the tax code to boost families with children, it should focus on those most in need.

Over the last two decades, DeLauro and others, including former Speaker Nancy Pelosi and Sens. Michael Bennet of Colorado, Sherrod Brown of Ohio and Cory Booker of New Jersey, made expanding the credit a top priority for congressional Democrats.

Step by step, they got provisions into each big tax bill that expanded the amount of the credit — now $2,000 per child — and the amount that could be refundable. In some of those efforts, Democrats struck alliances with Republicans, including Sens. Marco Rubio of Florida and Mitt Romney of Utah, who have seen the tax credit as a pro-family measure.

When the child tax credit first started, back in 1997, it was a small bonus that mainly helped middle-class families.

Taxpayers could take $400 off their income taxes for each child under 17. That helped families with decent incomes and several children, but did nothing for the large number of taxpayers who don’t owe any income tax — currently about 40% of households.

Starting in 2001, advocates for low-income families, led by Rep. Rosa DeLauro of Connecticut, pushed through a change to allow families to get some of the money even if they don’t owe any taxes. That’s called refundability in tax jargon, and it’s key to making the tax credit work as an antipoverty measure.

Their argument was that if the federal government was going to use the tax code to boost families with children, it should focus on those most in need.

Over the last two decades, DeLauro and others, including former Speaker Nancy Pelosi and Sens. Michael Bennet of Colorado, Sherrod Brown of Ohio and Cory Booker of New Jersey, made expanding the credit a top priority for congressional Democrats.

Step by step, they got provisions into each big tax bill that expanded the amount of the credit — now $2,000 per child — and the amount that could be refundable. In some of those efforts, Democrats struck alliances with Republicans, including Sens. Marco Rubio of Florida and Mitt Romney of Utah, who have seen the tax credit as a pro-family measure.

When the child tax credit first started, back in 1997, it was a small bonus that mainly helped middle-class families.

Taxpayers could take $400 off their income taxes for each child under 17. That helped families with decent incomes and several children, but did nothing for the large number of taxpayers who don’t owe any income tax — currently about 40% of households.

Starting in 2001, advocates for low-income families, led by Rep. Rosa DeLauro of Connecticut, pushed through a change to allow families to get some of the money even if they don’t owe any taxes. That’s called refundability in tax jargon, and it’s key to making the tax credit work as an antipoverty measure.

Their argument was that if the federal government was going to use the tax code to boost families with children, it should focus on those most in need.

Over the last two decades, DeLauro and others, including former Speaker Nancy Pelosi and Sens. Michael Bennet of Colorado, Sherrod Brown of Ohio and Cory Booker of New Jersey, made expanding the credit a top priority for congressional Democrats.

Step by step, they got provisions into each big tax bill that expanded the amount of the credit — now $2,000 per child — and the amount that could be refundable. In some of those efforts, Democrats struck alliances with Republicans, including Sens. Marco Rubio of Florida and Mitt Romney of Utah, who have seen the tax credit as a pro-family measure.

Previous Post

How to get your kids (and yourself) to put down the phone

Next Post

After more than 40 years in Koreatown, the Dragon will serve its last plate of jajangmyeon

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Health
  • Politics
  • Technology
  • Trending
  • Uncategorized
  • World
Binghamton Herald

© 2024 Binghamton Herald or its affiliated companies.

Navigate Site

  • About
  • Advertise
  • Terms & Conditions
  • Privacy Policy
  • Disclaimer
  • Contact

Follow Us

No Result
View All Result
  • Home
  • World
  • Politics
  • Business
  • Technology
  • Culture
  • Health
  • Entertainment
  • Trending

© 2024 Binghamton Herald or its affiliated companies.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In