(PatriotNewsDaily.com) – Republicans want to give Americans a child tax credit (CTC) as an incentive to get people to have more children.
The Democrat’s child tax credit is one of the rare examples of a tax policy that had bipartisan support. Still, the two sides don’t agree on what the size of the CTC should be, the eligibility requirements, or the pay plan. The child credit that had been established during the COVID-19 pandemic expired in 2021. Democrats have placed a lot of their focus on helping to bring back the tax benefit. The Republicans with the introduction of the Providing For Life Act appear to be willing to also bring the bill back.
The proposal the Republicans have put forth which is led by Senator Marco Rubio would mean that a larger amount is given to families, while also applying eligibility to those who have a fetus that is still in the womb.
The Providing For Life Act would mark an increase for children under 6 who would now get $4,500 while those children over the age of 6 would receive $3,500 in their families. The amount is going to be paid straight out during tax time instead of following the monthly plan that the Democrats had tried to introduce with the American Family Act.
Republicans are also attempting to have the credit applied in the year when the parents are expecting a child, meaning that the benefit would also apply to pregnant women. Rubio in his statement pointed out how for years they had been pressing to have more benefits for mothers and their unborn children.
Copyright 2023, PatriotNewsDaily.com