What would the new child tax credit offer if passed?

What would the new child tax credit offer if passed?

In late January, the House of Representatives passed a bill that would expand the federal child tax credit. To take effect, the bill still must pass the Senate, where it is “not guaranteed to get” approval, he said The New York Times. But if it wins Senate approval, the bill “would make the program more generous, especially for low-income parents, as early as this year,” she said. The Washington Post.

However, while this new bill would represent an expansion of the existing child tax credit, “it is not a return to the pandemic-era child tax credit,” when Congress “increased the benefit and made fully refundable, even to those who didn’t owe taxes,” he said The Wall Street Journal.

What’s different about the new child tax credit?

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