Bipartisan vote moves $78 billion legislation to Senate. Members of the House of Representatives passed legislation to expand the child tax credit and renew investment deductions for business…
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IRS to Increase Standard Deductions for 2023
They are responding to pressures of inflation. The Internal Revenue Service announced Tuesday that it is raising the income threshold for all tax brackets and will also increase…
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Child Poverty Hit Record Low in 2021
Pandemic stimulus payouts and child tax credits contribute. New census data shows that child poverty in America has dropped by more than 80 percent since 1993 when it…
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Senate Majority Pauses Build Back Better Debate
Moderate members of the majority are not supportive of the measure. This week, Senate majority members met for a virtual lunchtime meeting to discuss their caucus strategy. They…
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White House Suggests Possible Double Child Credit
Coronavirus relief law policy would be renewed and doubled in February. White Houes Press Secretary Jen Psaki told reporters on Friday that President Biden’s administration is interested in…
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Census Bureau Reports Drop in Hunger Rate
The implementation of new Child Tax Credit reduced childhood hunger by 24%. The Census Bureau released new information on the rates of childhood hunger in the United States…
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New Child Tax Credit Is Available to Families
President’s administration launches website for families to sign up. On Monday, President Biden and members of the White House staff began a public relations campaign to raise visibility…
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IRS will Begin Child Tax Payments in July
88% of American children eligible. The IRS announced that it would begin the implementation of direct payments to American families with children starting on July 15. The payments,…
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