February 7, 2024
Child Tax Credit Bill Would Increase Marriage Penalties for Working Single Mothers
H.R. 7024, the Tax Relief for American Families and Workers Act of 2024, was passed by the House last week and is now moving to the Senate for consideration. The bill would change the Child Tax Credit (CTC) in several ways. The two most contentious changes are a one-year lookback for the refundable portion of…
February 6, 2024
Research by a Top Biden Administration Economist Reinforces the Importance of Work Incentives in the Child Tax Credit and the Safety Net
For the past two years, economist Jacob Bastian has been the main researcher dedicated to trumpeting the virtues of a child tax credit (CTC) expansion. Writing first as an economist from academic perches at Rutgers and Princeton, later as an affiliate of moderate think tanks like the Niskanen Center and the R Street Institute, and…
January 19, 2024
The Work Incentive and Employment Effects of Eliminating the Child Tax Credit’s Annual Income Requirement
Abstract Senior House and Senate tax committee leaders agreed to a framework for modifying the Child Tax Credit on January 16, 2024. The most consequential reform would eliminate the Child Tax Credit’s annual income requirement by allowing individuals to calculate their eligibility using their current or prior year’s income, whichever year maximizes the family’s benefit….