Bipartisan Coalition Urges Congress to Expand the Child Tax Credit
By Lauren Pescatore
A bipartisan group of think tanks, advocacy organizations and individuals released a joint statement today calling on Congress to make major improvements to the Child Tax Credit (CTC).
The coalition is led by the libertarian Niskanen Center and supported by Republican Senators Mike Lee and Marco Rubio. It released the statement along with the launch of the website ExpandTheChildTaxCredit.com to encourage lawmakers to improve the CTC as part of tax reform by:
- Increasing CTC refundability
- Growing the size of the credit to at least $2,500
- Indexing the credit to inflation
According to the coalition, improving the CTC will “ensure families and children are key beneficiaries of tax reform, while helping to promote stronger families and improve the overall structure of the tax code.”
Senator Rubio (R-FL) expressed his support for the effort, saying “expanding the child tax credit is the number one thing we can do to enact a tax cut for working American families.” Senator Lee (R-UT) echoed these sentiments, noting that “working families expect to see real benefits from tax reform, and an expanded Child Tax Credit is one of the best ways to target relief for those who need it most.”
Learn more about the coalition and its efforts by visiting ExpandTheChildTaxCredit.com