House bill makes child tax credit fully refundable, a boon for low earners

The $1.75 trillion social and climate bill would make the child tax credit fully refundable on a permanent basis. The change would especially help low earners.

The bill also preserved some temporary enhancements for one year. Parents could claim a credit of up to $3,000 or $3,600 per child, depending on their age, in 2022 and receive funds in monthly installments. Speaker of the House Nancy Pelosi, D-Calif., speaks at a press conference, along with House Democratic leadership, after the House passed the Build Back Better Act on Nov. 19, 2021.The House of Representatives passed legislation Friday that would make the child tax credit fully refundable on a permanent basis, a change that would be of particular significance for low-income families.

The $1.75 trillion House legislation would make this a permanent feature of the tax code — which experts say would especially help lower-income parents and

Deadbeat nation

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

House Democrats just passed Build Back Better—here's what's includedHouse Democrats advanced their version of the $1.75 trillion bill that includes paid parental leave, a continuation of the enhanced child tax credit and more. MakeIt Hey CNBC, where did the term Build Back Better come from? Who coined it?
Source: CNBC - 🏆 12. / 72 Read more »