Pelosi: House Democrats want to make child tax credit expansion permanent
Source: The Hill
Speaker Nancy Pelosi (D-Calif.) said Tuesday that House Democrats want to make the expansion of the child tax credit (CTC) permanent, after President Biden proposed extending the increased credit amount through 2025.
"We want to have it longer," she said at a virtual event. The event was focused on making people aware that they should file tax returns by the May 17 deadline so that they can receive advance payments of the expanded CTC this year.
President Biden enacted a coronavirus relief law in March that includes a one-year expansion of the CTC. The law increases the credit amount from $2,000 to $3,600 for children under age 6 and $3,000 for older children, makes the credit fully available to the lowest-income households, and directs the IRS to make advance payments of the credit on a periodic basis from July through December.
The current expansion of the credit is just for 2021. Biden released a proposal last month, called the American Families Plan, that calls for the CTC to permanently be fully available for the lowest-income families and proposes to extend the other parts of the CTC expansion, such as the higher credit amount, through 2025.
Read more: https://www.msn.com/en-us/news/politics/pelosi-house-democrats-want-to-make-child-tax-credit-expansion-permanent/ar-BB1gCFex
= new reply since forum marked as read
