The US lawmaker offer a $4,500 credit and introduced the Providing For Life Act to expand the Child Credit Tax and this time there is a twist. The unborn children are eligible for the credit.
Will Biden Sign The Expansion of Child Tax Credit?
The Providing For Life Act is a new bill for the expansion of a Child Tax Credit. It includes those parents who are expecting a child. Expanding the Child Tax Credit (CTC) to cover unborn children and expanding tax relief for those who are working and adoptive parents can help new families to grow and thrive. The Child Tax Credit, which aims to help families with the cost of raising children, was expanded during the COVID-19 pandemic to bring more relief to families.
The Child Tax Credit would provide up to 4,500 dollars to those parents who are employed if their children are 5 years old or younger and 3,500 dollars if their children are between the ages of 6 and 17. Right now, the max tax credit per qualifying child is 2,000 dollars for children 5 and younger or 3,000 dollars for those 6 through 17, according to the published article from Vance Cariaga.
But the expansion of the Child Tax Credit has been blocked by Grand Old Party (GOP) lawmakers but they are hoping that some Republicans might eventually get on board.