Jennifer Shutt, Florida Phoenix President Joe Biden released his budget request for the upcoming fiscal year Monday, calling on Congress to stick to the spending agreement brokered last year and to revamp tax laws so that the “wealthy pay their fair share.” The $7.266 trillion budget request doesn’t actually spend …
Read More »Biden To Push For Return Of Expanded Child Tax Credit In State of the Union Speech
Ariana Figueroa, NC Newsline Top White House economic officials said Tuesday that President Joe Biden will announce how his administration is tackling economic issues — from the housing crisis to restoring the expansion of the child tax credit — during this week’s State of the Union address to Congress and …
Read More »Expanded Child Tax Credit Could Be In Place Quickly If Passed By Congress, IRS Chief Says
Ashley Murray, Michigan Advance Internal Revenue Service Commissioner Danny Werfel told lawmakers on Capitol Hill last week that his agency is “poised to move quickly” on a bipartisan tax bill that would temporarily expand the child tax credit and revive several corporate tax breaks. But, he cautioned, taxpayers should not wait to file. …
Read More »Congress Is Looking At Expanding The Child Tax Credit Again. Who Would Benefit?
by Ashley Murray, Missouri Independent The bipartisan tax package passed by the U.S. House last month is not a done deal, but the proposal’s supporters say it could restore some poverty-reducing benefits that reached millions under the pandemic-era child tax credit expansion. A majority of low-income families who do not currently qualify …
Read More »Child Poverty Dropped To A Record Low Last Year. A New Report Shows How To Keep It That Way
Casey Quinlan, Florida Phoenix The expanded child tax credit that families received in 2021 helped reduce child poverty across the country, but particularly in the South where families lack a sufficient safety net, according to a paper released on Wednesday. The report by the Hamilton Project, the Brookings Institution’s economic …
Read More »Child Tax Credit Expansion Left Out Of Congressional Omnibus Package
Ashley Murray, Michigan Advance Any last hopes of resurrecting the expanded child tax credit as part of Congress’ massive spending package were dashed early Tuesday when the 4,155-page bill was released without a mention of the tax benefit. The temporary expanded child tax credit, part of a COVID-19 relief deal …
Read More »The Child Tax Credit Payment Date Is Changing For August Only
Parents have come to expect to receive monthly payments from the expanded child tax credit, but for August, the payment will be issued on a different date than usual. Last month, the credit was paid on July 15, and subsequent payments will be made on the 15th of the month …
Read More »Dems Offer Bill To Help Single Parents Get Expanded Child Tax Credit
Congresswoman Katie Porter has introduced legislation to make it easier for families headed by single parents to get help from the expanded child tax credit. The Single Parent Penalty Elimination Act, which is co-led by Congresswoman Ayanna Pressley (MA-07) and Congressman Don Beyer (VA-08), would change the income threshold for Americans filing as …
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