July 7, 2023
The new bonus proposed by House Democrats would push the benefit from $3,600 a year to as high as $53,000 for families of newborns, making the legislation unlikely to pass. The Congressional Budget Office has already estimated that a permanent extension of the COVID-era CTC, which offered $300 per month, would cost the government $105 billion a year.
“When we make investments in our children through the expanded child tax credit, the return that we get is incredible,” Democratic Representative Suzan DelBene, who serves on the House Ways and Means Committee, told Roll Call last month.
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