Tags: mike lee | tax reform | families | child tax credit

Sens. Lee, Rubio, Continue Push for Child Tax Credit Addition

Image: Sens. Lee, Rubio, Continue Push for Child Tax Credit Addition
Sen. Mike Lee (AP)

By    |   Thursday, 30 November 2017 01:05 PM

Sen. Mike Lee said Thursday he and Sen. Marco Rubio are continuing their push for increases in the child tax credit included in pending tax reform legislation, as that would allow families to keep more of their hard-earned money.

[Sen] Marco Rubio and I would like to end what's called the parent tax penalty," the Utah Republican told Fox News' "Fox and Friends" program.

"We want to do that by making the child tax credit, which this bill would take up to $2,000, refundable up to the amount of taxes paid. Including payroll taxes. In other words, we think that the child tax credit ought to be refundable up to 15.3 percent of earnings."

That benefit would not equal a welfare benefit, Lee said, but would be a "benefit that would go to America's moms and dads. It would go only to those who are actually working and paying into the system."

There are some concerns about the proposal, however, because to pay for it, President Donald Trump's call for a 20 percent corporate tax rate may need to be made 21 or 22 percent.

"That is one idea," Lee said. "That is an idea we have suggested how to pay for it, as President Trump acknowledged to us when I met with Republican senators the other day. In this bill you have got about 70 percent of the relief that's going to corporations, about 30 percent that's going to individuals.

And we think that this is one way of making sure individuals get more relief. There are other ways you could pay for it."

Meanwhile, Lee said he is "very bullish" that the Senate will pass the tax reform bill legislation.

"We're going to get this thing passed," he told the program. "We will get it to the president's desk and is he going to sign it."

Lee also said there aren't any Republican senators left who are insisting that they won't vote for the bill, and "everyone in the conference wants to get to yes. I think everyone in the conference wants to get to yes. I think we are in a very good position to actually get it passed."

Two key holdouts, Alaska Sen. Lisa Murkowski, and Arizona Sen. John McCain, have said they'll vote for the bill.

Voting will start sometime between this afternoon and this evening, said Lee, and the child tax credit would be a small change that could have a huge effect for parents throughout the country.

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Sen. Mike Lee said Thursday he and Sen. Marco Rubio are continuing their push for increases in the child tax credit included in pending tax reform legislation, as that would allow families to keep more of their hard-earned money.
mike lee, tax reform, families, child tax credit
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2017-05-30
Thursday, 30 November 2017 01:05 PM
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