On August 1, 2024, the majority of U.S. Senate Republicans blocked legislation aimed at expanding the child tax credit and providing essential support to low-income families. The proposed bill also included tax cuts for small businesses and investments in housing supply for low-income renters.
Brendan Duke, senior director of economic policy at the Center for American Progress, commented on the outcome: "Today’s vote is a gut punch to low-income families struggling to make ends meet. The Senate Republican majority blocking this legislation hinders vital support and resources that can help children thrive."
Duke further elaborated on the potential impact of the bill: "Expanding the child tax credit would have lifted half a million children out of poverty. The bill already represented a substantial compromise by congressional Democrats, falling well short of the historic American Rescue Plan expansion that cut child poverty almost in half. Senate Republicans’ refusal to enact even this modest child tax credit expansion is a refusal to deliver support to American families that need it the most."
The legislation was designed to be fully funded by ending an abused pandemic-era tax break. According to Duke, rejecting this bill benefits "shadowy tax preparers extracting billions from the U.S. Treasury with fraudulent tax claims over low-income families with children, small businesses, and struggling renters."
For more information or to speak with an expert, interested parties are encouraged to contact Sarah Nadeau at [email protected].
