"House Passes Bill for Expanded Child Tax Credit, Potentially Providing $700 Tax Break to Families"
TL;DR
The House passed a bipartisan tax bill expanding the child tax credit, potentially providing families with a nearly $700 tax break as early as this year. The bill would raise the maximum refundable tax break to $1,800 per child for tax year 2023, with further increases in the following years. Low-income families could see larger tax breaks, and more than 1 in 5 children would benefit from the proposal in the first year, with 400,000 poised to rise out of poverty.
Topics:nationtaxation#child-tax-credit#house-of-representatives#low-income-families#senate#tax-break#taxation
- House passes child tax credit bill that could give families a nearly $700 tax break as early as this year CNBC
- House passes child tax credit expansion — which could benefit millions of families, experts say CNBC
- Senate GOP takes hard line on tax deal POLITICO
- Analysis | Republicans' plotting to block a Democratic president goes public The Washington Post
- House passes $78 billion tax bill in bipartisan vote The Hill
Want the full story? Read the original reporting
Read on CNBC