"Understanding the Potential Recipients of an Expanded Child Tax Credit"

The House passed a bipartisan bill that would expand the federal child tax credit, benefiting low-income families the most. The bill would incrementally raise the refundable amount of the credit, with households seeing an average tax cut of $680 in 2023. However, the bill's fate in the Senate is uncertain, with some Republicans expressing reluctance due to concerns about migrants benefiting from the child tax credit. If passed, the bill could also enhance a tax credit for the construction or rehabilitation of rental housing targeted to lower-income households.