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Uncertainty Surrounds Expansion of Child Tax Credit

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Child Tax Credit,Expansion,Poverty

The expansion of the federal Child Tax Credit, which could have lifted hundreds of thousands of children out of poverty, has failed to materialize and its future remains uncertain. The bill, known as the Tax Relief for American Families and Workers Act of 2024, passed the House with bipartisan support but is currently stuck in the Senate. Some parents were hopeful for the provision that could have increased their refund for the 2023 taxes.

Earlier this year, the federal Child Tax Credit appeared headed for an expansion that would have helped lift hundreds of thousands of children out of poverty. But the expanded CTC failed to materialize ahead of the April 15 tax deadline, and its future appears uncertain. The bill, called the Tax Relief for American Families and Workers Act of 2024, easily passed the House in February with bipartisan support.

One of those issues is a so-called 'look back' provision that would allow parents to use income from a prior year if it would help boost the amount they could claim through the CTC. Some Republican lawmakers claim it could weaken parents' incentive to work, Politico reported.Even so, advocates are still holding out hope that the tax bill could pass. The National Parents Union, an advocacy group for parents, urged lawmakers at an April 10 rally to move the legislation forward.

Child Tax Credit Expansion Poverty Tax Relief For American Families And Workers Act Senate Refund Taxes

 

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