The CTC provides relief to millions of American families through financial support for childcare, food, housing, and other costs. Despite the good that this legislation may achieve, we know there is more work to be done. This bill funds the CTC at a level that has about one-ninth of the impact of the 2021 American Rescue Plan (ARP) expansion.
I am also concerned that the bill does not continue the monthly CTC payments that were created in the ARP. Monthly payments can help families avoid falling into debt far more than the annual tax credit that is created in this bill.
Finally, it is disappointing that the bill fails to repeal the Trump-Era SALT deduction caps from 2017. While large corporations are granted tax breaks, the working class’ income is taxed twice. At the end of 2025, the Tax Cuts and Jobs Act of 2017 will expire. If Congress does nothing before then, the CTC will be cut in half, and child poverty will skyrocket yet again. We cannot let that happen. The House must work to fully fund and expand the CTC to address child poverty in this country.
