Free Republic

(NEXSTAR) – If President Biden’s tax deal makes it through Congress, some taxpayers could see a sizable bump in the form of an expanded child tax credit, but the proposed bill has hit a stumbling block. In late January, the House passed the measure, titled the Tax Relief for American Families and Workers Act, in a resounding 357-70 bipartisan vote. All momentum stopped, however, when it reached the Senate, where it remains stalled with roughly a month left in the tax filing season. The current child tax credit is $2,000 per child, but not all of that is refundable. If...

So far, most American adults have received $3,200 in direct stimulus payments — $1,200 from the CARES Act in March 2020, $600 at the end of that year and then $1,400 from the American Rescue Plan under the Biden administration in 2021. That doesn’t count payments for qualifying dependents or other stimulus money like expanded unemployment or advance payments on the child tax credit. But all good things must come to an end, and it now appears that with 2022 upon us, the pandemic stimulus well has mostly run dry. If you were banking on another round of tax-free cash...

Let's Be "Fair," Give Child Tax Credit To the Childless June 9, 2003 The Democrat proposal to give the child tax credit to people who don't make enough money to pay taxes, created a stir in the e-mails and on the phone lines Monday. Remember two things: #1 - Senators Blanche Lincoln (D-AR) and Olympia Snowe (R-ME) voted against extending this credit to low-income families. #2 - Republican tax policy has removed 13 million Americans from the tax rolls, moving the burden for paying income taxes onto the upper brackets. The downside of this is that fewer people have a...