They worry that the expanded tax credit would reduce incentives to find a job, hurting the economy.
The child tax credit “is a costly transfer program for taxpayers with kids who do not need government handouts,” the Cato Institute, a libertarian think tank, has said.
In 2022, after one year, Congress allowed the expanded child tax credit to expire.
While it was in effect, the expanded child tax credit reduced child poverty in the U.S. by nearly half, studies have found.
JD Vance, Donald Trump’s running mate, has said he favors expanding the child tax credit as well, though he is vague on details.
Persons:
Kaleena Daugherty, Kamala Harris, Daugherty, —, ”, “, She’s, Harris, JD Vance, Donald Trump’s
Organizations:
Cato Institute, Poverty, Columbia University, Ms, Budget
Locations:
Milwaukee, U.S