The Senate GOP bill would double the child tax credit, which pleases two skeptical senators

made public Tuesday night by the Senate Finance Committee, would increase the child tax credit to $2,000 from the current credit of $1,000. The House version of the tax bill would increase it to $1,600.

Mr. Rubio advocates an expansion of the child tax credit, which helps cover the cost of having kids. And while it serves a vital purpose, the credit does not directly address the rapidly rising cost of child care and early education programs.

What the headlines about Ivanka's political win aren't telling you

The Child Tax Credit in Four Dimensions

“We are making progress,” the Florida Republican said Wednesday on Twitter.

Expand the Tax Credit for Child Care

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Ivanka Trump scores win with Senate plan to double child tax credit

Why it matters: The planet is believed to be in the “habitable zone” because it’s temperature falls between -76 and 68 degrees Fahrenheit, which could allow water to exist on its surface, according to The Planetary Society. Ross 128 b orbits a so-called “quiet” star that “spews out comparatively less radiation that could harm life as we know it.” Another Earth-like planet — Proxima b — is closer to our solar system but bombarded with radiation.

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Ivanka gets her way on expanded child tax credit

Eligibility on the Low End The argument for an enlarged credit also suggests that it should apply against both payroll and income taxes. A household with one child should get the full value of the credit so long as it generates $2,000 or more in federal revenues from all sources — even if its income-tax liability is below $2,000. It’s an important point because most households pay more in payroll taxes than in income taxes. Tax relief that does not include payroll-tax relief will reach a much smaller number of Americans.

Go deeper: How Republicans are trying to stop Roy Moore

After early speculation she’d serve as something of a faux first lady, Ivanka Trump has won praise for her policy efforts from GOP allies.Maximum Value The case for a large child credit (outlined in the above link) suggests that each child should reduce a household’s tax bills by about $3,700. Currently, families in the most common tax bracket — the 15 percent bracket — see their tax liability fall by about $1,600 per child. The Senate bill would make that number $2,000: a solid increase.
Sens. Marco Rubio, R-Fla., and Mike Lee, R-Utah, pushed for a $2,000 per child credit, saying it would provide more relief to middle-income taxpayers. They cheered the move after the amended bill’s release.President Trump gave a full-throated defense of his ‘America First’ approach to foreign policy Wednesday, fresh off a 12-day trip to Asia. “My fellow citizens, America is back,” he said, before walking away from the podium amid shouted questions about Roy Moore.
Take a married couple with two kids and income of $24,000. Their child tax credit goes up just $100 for inflation per child. A family of four making $500,000 get new full $1,000 for each kid. https://t.co/dV7D1AYQ7bGood news for working families, the Senate #TaxCut bill now has #ChildTaxCredit at 2K. We are making progress https://t.co/EMTMJQW1PrScott Tuesday said Moore should drop out “if the allegations are true.” Wednesday that qualifier was nowhere to be found.
The Senate Finance Committee aims to approve the bill this week. Republicans want the full Senate to pass it during the week after Thanksgiving. The House GOP hopes to pass its version on Thursday.  [email protected]var pymParent = new pym.Parent(‘av-proj-occupation-digitization’, ‘https://graphics.axios.com/2017-11-13-proj-occupation-digitization/index.html?c=11’, {}); Data: Brookings “Digitalization and the American workforce” report; Interactive: Lazaro Gamio / Axios

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The automatic expiration of the expanded child credit strikes me as a less important issue than indexing it so it keeps up, at least, with inflation. Protecting millions of families from a tax increase will probably be sufficiently popular to get the expanded credit extended or even made permanent at some future date.

Congress should do more than just expand the child tax credit. Lawmakers should also expand and enhance the child and dependent care tax credit, which was created specifically to help more families afford quality child care.

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Tweaks to the Senate tax plan include a change that will help to ease the concerns of two Republican senators.

The Senate has agreed to increase the child tax credit from $1,000 to $2,000 — a more generous increase than the House bill which increases the child tax credit to $1,600. But real story is who will benefit and for how long.

Rubio: Good news for working families, the Senate # TaxCutbill now has # ChildTaxCreditat 2K. We are making progress

Re “Tax Reform Should Help Families” (Op-Ed, Nov. 6):By 15 Johnstown Community Leaders

The House and Senate tax bills would deeply cut corporate taxes, nearly double the standard deduction used by most Americans and limit or repeal the federal deduction for state and local property, income and sales taxes. Trump was closely involved in the administration’s work around the bills and specifically advocated for a boost to the child tax credit — the thing she stresses is worth hundreds of billions of dollars and is no “pet project.”

The presidential daughter and adviser, in a “full-blown sprint” as she sells the Republican tax overhaul plan and juggles other initiatives, has had it with all that talk about her “pet project” to increase the child tax credit.Durability The size of the child credit ought to rise each year to keep up with both inflation and real wage growth, just as tax payments and old-age entitlement programs do. The child credit is not now indexed for either. Its real value drops over time. The Senate bill does not change this.


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