Washington —The House voted on Wednesday to approve a bill that would expand the Child Tax Credit and extend some business tax credits in a rare and long-sought bipartisan victory amid divided government. The legislation passed the House in a 357 to 70 vote, far surpassing the two-thirds ma...
The bill, called the Tax Relief for American Families and Workers Act of 2024, was approved with bipartisan support in the House, and will head to the Senate next, although a date for a vote has yet to be scheduled . The push to overhaul the tax benefit comes more than two years after...
Child Tax Credit Vote Caps Busy MonthMARY DALRYMPLE, AP Tax Writer
Never before in a presidential election cycle has there been so much discussion of the child tax credit — a tool many Democrats and Republicans have endorsed as a way to lift children and young families out of poverty.
Legally, your child bears primary responsibility for filing and signing their own income tax returns. This responsibility can begin at any age, perhaps well before your child becomes eligible to vote. According to IRS Publication 929,"If a child can't file their own return for any reason, suc...
Eligible households have been using the monthly payment to supplement household spending and pay off debt, data shows. But the future of the child tax credit hangs in the balance as the Biden administration struggles to pass the Build Back Better bill, w
Eligible households have been using the monthly payment to supplement household spending and pay off debt, data shows. But the future of the child tax credit hangs in the balance as the Biden administration struggles to pass the Build Back Better bill, w
Shealah Craighead/The White House // Flickr 2018: America's Water Infrastructure Act In a landslide vote of 99-1, America's Water Infrastructure Act provides funds for a variety of infrastructure projects and improvements to U.S. water sources and provides conservation, water pollution control, ...
After 2021, Congress didn't renew the temporary tax break and the child tax credit reverted back to its prior levels, andit is scheduled to drop again after 2025 to $1,000 per child. Efforts to expand the credit since 2021 haven't panned out, includinga Senate vote on Aug. 1that f...
One Senator in particular — Sen. Joe Manchin, D-W.Va. — recently said he will not vote for the bill in its current form. He has also taken issue with the existing child tax credit proposal, in part due to high costs. For families who have come to count on the monthly check...