Congress has begun deliberating the Wyden Smith tax deal proposal.
This proposal will expand the Child Tax Credit, increasing benefits, adjusting credits for inflation, and giving families the ability to use last year’s income to qualify for both 2024 and 2025.
According to research by the Urban Institute, the expansion of the Child Tax Credit will yield long-term benefits for families, including a boost in high school and college graduation, and increased earnings through adulthood.
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