Tags: gop | child | tax | credit

Child Tax Credit Would Get $115 Billion Boost in Republican Plan

Monday, 23 Jun 2014 06:58 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Republicans in the U.S. House of Representatives are proposing a $115 billion expansion of the child income tax credit.

The plan, proposed by Representative Lynn Jenkins of Kansas, would index the $1,000 credit and income cutoffs to inflation and remove a marriage penalty. Her bill is set for a vote in the House Ways and Means Committee on June 25.

Republicans, who have focused in the past on reducing marginal tax rates, have been trying to shift to a more family- focused tax policy.

Some upper-middle-income families would benefit from the plan’s increase in the start of the income phaseout for married couples to $150,000 from $110,000 and from tying that threshold to inflation. Increasing the size of the credit would help a broader swath of the public.

The committee will also consider a bipartisan bill that would consolidate tax breaks for education.

President Barack Obama today hosted a day-long White House Summit on Working Families, touting his proposals including more flexible job hours, paid maternity leave and an increase in the minimum wage.

Democrats have opposed the piecemeal tax bills that Ways and Means Republicans have proposed over the past few months, arguing that such tax cuts should be offset to prevent the deficit from growing.

The bills are H.R. 3393 and H.R. 4935.

 

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

NYC Races to Trace Ebola Patient's Steps

Friday, 24 Oct 2014 08:05 AM

New York City health officials are racing to trace people who may have had contact with Ebola patient Dr. Craig Spencer, . . .

Women Start Tuning Out NFL for Abuse-Case Mistakes

Friday, 24 Oct 2014 07:04 AM

Some women are starting to tune out the National Football League as it deals with the fallout from its mishandling of do . . .

Bo Dietl: Stop-and-Frisk Would Have Averted Hatchet Attack

Friday, 24 Oct 2014 06:44 AM

Former New York Police detective Bo Dietl says the ending of the department's stop-and-frisk policy is partly to blame f . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved