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Publication Date: May 2008
Publisher: Center on Budget and Policy Priorities (Washington, D.C.)
Author(s): Aviva Aron-Dine
Research Area: Banking and finance
Keywords: Economic projections; Federal budget; Tax code; Economic inequality
Type: Report
Abstract:
Because of their potential impact in reducing child poverty and hardship, proposals to improve the refundable Child Tax Credit have garnered significant bipartisan support. In the Senate, Olympia Snowe (R-ME) and Blanche Lincoln (D-AR) have introduced legislation that would begin to address key flaws in the credit's structure. In the House, Ways and Means Committee Chairman Charles Rangel’s tax reform proposal would make even larger improvements, as would legislation introduced by Representatives Christopher Carney (D-PA) and Todd Platts (R-PA).