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April 9, 2024
The Child Tax Credit: My Long-Read Q&A with Kevin Corinth
…as “middle class tax relief.” That’s not really what it was. It was in the sense that it increased that maximum payment, but you’re right, the fundamental change was that…
April 5, 2024
What’s Wrong with the US Economy? Anything?
…strong growth, price stability and maximum sustainable employment. So, what’s not to like? In the short term, high inflation is still an issue. It remains stubbornly sticky, stirring fears of a possible resurgence,…
March 28, 2024
An Early Look at the Child Tax Credit Changes in the Tax Relief for American Families and Workers Act of 2024
…providing corporate tax relief, the legislation would change the CTC in four ways. First, the maximum CTC benefit would be indexed to inflation. Second, the maximum refundable credit would increase…
March 4, 2024
Social conservatives who care about marriage should think twice about a “per-child” refundable Child Tax Credit
…encourage marriage, they should focus on increasing the maximum CTC benefit rather than increasing the CTC’s phase-in for families with multiple children. 72% of single moms work. It is thus…
February 27, 2024
Options for Improving the Child Tax Credit Provisions in H.R. 7024, the Tax Relief for American Families and Workers Act of 2024
…H.R. 7024, we recommend several improvements to its CTC provisions, including provisions to retain and provisions to drop. Provisions to Retain Increase the Maximum CTC to Account for the Rising…
January 19, 2024
The Work Incentive and Employment Effects of Eliminating the Child Tax Credit’s Annual Income Requirement
…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. We show that for the…
January 12, 2024
Congress Shouldn’t Expand Welfare in Return for Corporate Tax Cuts
…maximum benefit. Adopting the 2021 maximum credit amounts of up to $3,600 would cost upwards of $80 billion per year. Modest reforms to the Child Tax Credit that support working families could…
December 11, 2023
Has Inequality Made Americans Poorer than Bulgarians, Russians, and Filipinos?
…and with 2 to 6 percent in Slovenia, Austria, Italy, Iceland, Sweden, Germany, Japan, Denmark, and Switzerland. In fact, of the full list of 29 countries with data in the…
November 14, 2023
Did Child Poverty Really Increase Last Year?
In 2021, Democrats succeeded in temporarily expanding the child tax credit (CTC) as part of President Biden’s American Rescue Plan. Previously, the maximum CTC of $2,000 per child was available only…
October 11, 2023
CHANGING THE OFFICIAL POVERTY MEASURE WOULD HELP RICH STATES AND HURT POOR STATES
…example, the maximum income a family of four could have and still receive SNAP is currently just under $41,000 in every state except Alaska and Hawaii. The SNAP eligibility threshold…