Congress Close to Passing Bill to Expand Child Tax Credit

The proposed legislation, which could lift half a million children out of poverty, faces opposition but has a strong chance of approval.

Congress is on the verge of passing a bill that could lift half a million kids out of poverty by next year. The proposal involves an expanded tax credit for parents of children 16 and younger.
The proposed credit is a scaled-down version of a plan that passed during President Biden‘s first year in office, but only lasted one year.
The new plan would expand refundability to cover most families with at least some earnings. It would guarantee that those who do qualify get the full amount of the credit for each child, eliminating a cap in the current law.
The new plan would lift about 400,000 children out of poverty in the first year and reduce poverty for another 3 million, according to the center’s analysis.
Despite opposition from some House Republicans and conservative Republicans in the Senate, the bill has a strong chance of approval.