Rubio, Lee Appear to Win Expanded Child Tax Credit for Working Families Rubio, Lee Appear to Win Expanded Child Tax Credit for Working Families – NTK Network

Rubio, Lee Appear to Win Expanded Child Tax Credit for Working Families

The two senators have been pushing for expansion of the child tax credit throughout the GOP's tax effort. Lee suggested on Thursday they may be winning.

By NTK Staff | 12.14.2017 @10:15am
Rubio, Lee Appear to Win Expanded Child Tax Credit for Working Families

Sen. Mike Lee (R-UT) told constituents on Thursday, during a Facebook Live event, that the child tax credit – which doubles under the Senate GOP tax bill, thanks to Lee and Sen. Marco Rubio (R-FL) – will be available to far more working families as a result of Lee’s and Rubio’s efforts.

The Washington Examiner reported:

Republicans will make the doubled child tax credit in their tax bill partly refundable against payroll taxes, Sen. Mike Lee, R-Utah, said Wednesday evening, meaning that the tax break will be available to many more low-income families.

The Senate-passed version of the tax bill would have increased the child tax credit from $1,000 to $2,000, but would have limited the benefit for lower-income people by not similarly increasing the portion that would be refundable. Thus taxpayers would get money back from the government even if they didn’t have income tax liability.

Lee said in a Wednesday evening Facebook Live event with constituents that in the final joint House-Senate bill being negotiated “a significant portion, we don’t yet know for sure how much of that, will be refundable up to the total amount of taxes paid, including payroll taxes.”

Lee and Rubio have been the key proponents of expanding the child tax credit. In November, they introduced an amendment to the GOP tax bill that would:

  • “Make the Child Tax Credit refundable up to payroll tax liability (15.3 percent of earnings).”
  • “Fix the marriage penalty by reducing the income phaseout threshold for the Child Tax Credit to $250,000 for all non-married filing jointly filers.”
  • “Index the Child Tax Credit to chained CPI in accordance with other individual-side provisions.”
  • “Increase the corporate income tax rate to 22 percent, to fully pay for the above changes.”

Rubio has gone further than Lee in suggesting he may withhold his support of the compromise version of the bill if it doesn’t expand the child tax credit. Rubio tweeted his displeasure over the debate on Tuesday:

However, it appears that, if Lee is right, the child tax credit will expand and that may secure the votes of Rubio and Lee for the GOP’s tax cut effort.

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