Marketpips
ADVERTISEMENT
  • Home
  • Banking
  • Investing
  • Insurance
  • Retirement
  • Taxes
Marketpips
No Result
View All Result
Congress Struggles to Make a Deal, Child Tax Credit Hopes Fade

Dozens of Capitol Hill Democrats. The extended tax credit for children is urgently needed

admin by admin
February 8, 2023
in Taxes
0 0
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT
Dozens of House Democrats on Capitol Hill are urging an extended version of the child tax credit (CTC) during the lame duck session of Congress.

TO lame duck sessionFor those unfamiliar with the term, it occurs when Congress is in session after a November election (this year it occurs on November 8) and before the start of the new Congress.

The hill reports that “members of the Coalition of New Democrats, the largest Democratic coalition in the House, wrote a letter to House Speaker Nancy Pelosi (D-CA), House Majority Leader Steny Hoyer (D- MD) and Whip James Clyburn (DS.C. ) on Thursday requesting that they “prioritize improving [child tax credit] in any end-of-year package.'”

Last month, major Democratic players stepped up their efforts to expand the CTC.

According to Columbia University Center for Poverty and Social PolicyAn additional 3.7 million children now live in poverty due to expiring monthly Child Tax Credit payments, with Black and Latino minority children facing the largest percentage point increases.

Michael Bennett (D-CO) has been a particularly vocal advocate of expanding credit. he told her earlier Axios, β€œIt’s a priority for the White House and it’s absolutely a priority for me. We never should have allowed the sun to go down, and I think we can find a way by the end of the year.”

In a statement issued on Tuesday, September 13, Bennet was joined by fellow Senator Cory Booker (D-NJ) and Representatives Rosa DeLauro of Connecticut, Ritchie Torres of New York and Suzan DelBene of Washington. In part, the statement read: “We should not extend corporate tax breaks to the end of this year without also extending the expanded Child Tax Credit.” It’s worth noting that there has also been Republican support for some kind of extension. In JulySenator Mitt Romney (R-UT) joined two other Senators in introducing the Family Safety Act 2.0.

At that time, a CNBC report shared the following details:

The bill, called the Family Safety Act 2.0, was created by Republican Senators Mitt Romney of Utah, Richard Burr of North Carolina and Steve Daines of Montana, who describe it as a “blueprint for family, life, and health.” marriage”. .”

Tags: CapitolchildrenCreditDemocratsDozensextendedHillneededTaxurgently
ADVERTISEMENT

Related Posts

TaxProf Blog
Taxes

TaxProf Blog

March 29, 2023
National Debt, Deficit, Social Security, Medicare
Taxes

National Debt, Deficit, Social Security, Medicare

March 29, 2023
IRS provides tax relief for Mississippi storm victims
Taxes

IRS provides tax relief for Mississippi storm victims

March 29, 2023
Upload files quickly with a secure link
Taxes

Upload files quickly with a secure link

March 29, 2023
TaxProf Blog
Taxes

TaxProf Blog

March 29, 2023
Protect Your Stock Options and RSUs in the Event of a Job Loss: 3 Key Actions
Taxes

Protect Your Stock Options and RSUs in the Event of a Job Loss: 3 Key Actions

March 29, 2023
Next Post
πŸ˜‰

Personality psychology and early retirement resistance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • ABA seeks clarity in the implementation of corporate alternative minimum tax March 30, 2023
  • Top 10 Cheapest Monthly Dividend Stocks Now March 30, 2023
  • The FDIC faces $23 billion in costs from bank failures. He wants the big banks to pay March 30, 2023
  • Reverse your tax return? Check Out This ETF Yielding 11.8% – TipRanks Financial Blog March 30, 2023
  • RBI notifies special clearing for government transactions on March 31 March 29, 2023

Categories

  • Banking (1,116)
  • Insurance (627)
  • Investing (1,178)
  • Retirement (321)
  • Taxes (1,021)
ADVERTISEMENT
Marketpips

Follow us on social media

Categories

  • Banking
  • Insurance
  • Investing
  • Retirement
  • Taxes

Recent News

  • ABA seeks clarity in the implementation of corporate alternative minimum tax
  • Top 10 Cheapest Monthly Dividend Stocks Now
  • The FDIC faces $23 billion in costs from bank failures. He wants the big banks to pay
  • Home
  • Contact
  • About us
  • Privacy Policy

Β© 2023 Marketpips.com. All Copyright Reserved

No Result
View All Result
  • Home
  • Banking
  • Investing
  • Insurance
  • Retirement
  • Taxes

Β© 2023 Marketpips.com. All Copyright Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In