Proposed Child Tax Credit Changes Could Push Millions of Kids Into or Deeper Into Poverty – msn

“Another proposed change to the Child Tax Credit is to raise the full credit amount from $2,000 to $2,500, which would not bring more benefits to the lowest-income working families but would expand benefits for higher-income families. Today, 17 million children in low-income families receive no Child Tax Credit or only a partial full credit because of the income requirements in the current Child Tax Credit structure. A family with two children must earn just over $29,000 to receive the full credit of $2,000 per child.

“‘Lifting the credit to $2,500 makes nothing difference for the lowest-income families,’ said Menefee. ‘If you weren’t eligible for the full credit before, you’re still not getting any more under this expansion.’ In contrast, the Tax Policy Center estimated that the top 20% of families with children would see their received credits increase by more than 20%, ten times more than what the lowest-income 20% would receive.”

OPTIONS TO REFORM THE CHILD TAX CREDIT IN THE 2025 TAX DEBATE – Tax Policy Center

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