News Round-up: October 11, 2016
Here are some highlights from the past week’s news and upcoming events on family tax credit issues.
- Democratic presidential nominee Hillary Clinton today announced a plan to expand the Child Tax Credit (CTC). The proposal, which was outlined in a policy brief released by the campaign, would double the current credit from $1,000 to $2,000 per qualifying child and increase the refundable portion of the credit. Vox called it “an ambitious but politically attainable plan that will lift huge numbers of families with children out of poverty” (Vox, Politico, Bloomberg).
- Close inspection of Republican presidential nominee Donald Trump’s tax platform revealed that it would cost more than half a trillion dollars over the next 10 years (Wall Street Journal).
- Sherrod Brown (D-Ohio) introduced a bill to create a Young Child Tax Credit, which would build on the current CTC and help families raising children under the age of three cover increased expenses like child care (Center for American Progress).
- Michael Strain of the American Enterprise Institute and Dereck Monson of the Sutherland Institute encouraged voters in Utah to support candidates who will implement a state Earned Income Tax Credit (EITC) (Deseret News).