Biden’s ‘high individual tax hikes are going to affect everyday people’: Westwood
Sarah Westwood of the Washington Examiner discusses Biden’s proposed tax hikes, comparing the president’s proposals to those of the late Walter Mondale.
A group of Democratic lawmakers is calling on the White House to include a permanent expansion of the child tax credit in its next big-ticket economic spending package amid reports that President Biden is seeking to extend it only until 2025.
The White House is preparing to release the American Families Plan – the second part of Biden's Build Back Better agenda – this month, a measure that could cost upward of $1 trillion and is expected to focus on child care, paid family leave and other domestic issues.
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That includes an extension of the expanded child tax credit through 2025 – sparking pushback from some Democratic lawmakers who want Biden to make an expansion included in the $1.9 trillion coronavirus relief package permanent. Under that legislation, Congress authorized $3,000 for every child ages 6 to 17 and $3,600 for every child under age 6. The amounts taper off once income hits $75,000 for individuals and $150,000 for married couples, and the expansion is poised to sunset this year.
If families earn too much to qualify for the expanded tax credits, they can still receive the $2,000 credit for their children if their income level is below $200,000 for individuals and $400,000 for married couples.
A group of Democrats on Tuesday urged the White House to reconsider the 2025 deadline and support a permanent expansion of the child tax credit.
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"No recovery will be complete unless our tax code provides a sustained pathway to economic prosperity for working families and children," the lawmakers said. "Permanent expansion of CTC will continue to be our priority." The coalition included Sens. Sherrod Brown, D-Ohio, Cory Booker, D-N.J., and Michael Bennet, D-Colo., as well as Reps. Rosa DeLauro, D-Conn., Suzan DelBene, D-Wash., and Ritchie Torres, D-N.Y.