Child Tax Credit

“ Forty million American families have an average $2,200 extra thanks to our child tax credit. I have also overseen historic funding increases for high-quality child care, enabling 17 States to serve more children, many of which have reduced or eliminated their waitlists altogether. And I sent the Congress a plan with a vision to further expand access to high-quality childcare and urge you to act immediately. ”

“ My child care initiative, along with funds already secured in welfare reform, would make child care better, safer, and more affordable for another 400,000 children.
For hard-pressed middle-income families, we should also expand the child care tax credit. And we should take the next big step. We should make that tax credit refundable for low-income families. For those making under $30,000 a year, that could mean up to $2,400 for child-care costs. We all say we're pro-work and pro-family. ”

“ We have achieved other important legislative victories for children and families, including a $500 child tax credit, a $1 per hour increase in the minimum wage, expanding the Earned Income Tax Credit, passing the Family and Medical Leave Act, enacting the largest expansion of health insurance for children ever, and creating incentives to move more children from foster care to safe, loving, and permanent homes. As a result of these victories, the child poverty rate in our country has dropped by 22 percent since 1993 ”

“ Most important, in its core provisions, this balanced budget will help working families live up to their responsibilities to their children, their parents, and their communities.
One family has three children. He's a carpenter; she cares for his mother, who lives at home with them. The $1,500 a year they will receive from the child tax credit will be the biggest increase in take-home pay they have seen for some time. ”

“ But for someone who doesn’t have direct deposit, they’re getting a check in the mail for all of that.
So we expand the child — we also expanded the Childcare Tax Credit. Right now, if you file your federal income tax, you’ll get to a $2,000 deduction for every child you have. But if you’re making the minimum wage, you don’t earn enough to file for federal taxes. ”

“ You know, child poverty will be reduced by half. There’s a child tax credit, which is of, you know, significant value to parents, and women in particular. Unemployment insurance. You know, helping schools reopen safely so that kids can back into school. Help stabilizing the childcare industry and helping parents be able to afford childcare. There’s so much in there that will provide immediate relief to women and help them get back to work.
And then, as Julissa says, you know, there are longer-term structural changes that also need to be addressed. ”

“ A typical family of four making $100,000 will get $5,600 in direct checks. Lifting 11 million people out of poverty and cutting child poverty in half this year, including through a historic expansion of the Child Tax Credit that will benefit 66 million kids across the country. Extending unemployment insurance for around 11 million Americans. As you all know, that would — we would have hit a point where people would be losing it later this week, if we were not headed toward the passage of this bill. ”

“ The Child and Dependent Care Tax Credit provides too little relief to families that struggle to afford child care expenses. Barack Obama and Joe Biden will reform the Child and Dependent Care Tax Credit by making it refundable and allowing low-income families to receive up to a 50 percent credit for their child care expenses. Protect Against Caregiver Discrimination: Workers with family obligations often are discriminated against in the workplace. ”

“ My Administration is committed to ensuring that our children grow up in loving, stable homes. Earlier this year, I signed legislation that creates new grants for faith-based and community organizations to support healthy marriages and responsible fatherhood. By reducing the marriage penalty and doubling the child tax credit, we have also provided important tax relief that helps parents to support and provide for their families. ”

“ Expands eligibility for the $1,000 child tax credit and the earned income tax credit. Extends the deduction for college tuition. Expands tax rebates to working parents too poor to pay income tax. Extends for one year the special rules that allow members of the armed forces to include combat pay as earned income to qualify for earned income tax credit. Extends the deduction for state and local sales taxes. Extends deductions of up to $250 per claim for teachers who pay for school supplies out of their pockets. ”

“ Child Tax Credit Refund Amount.—For purposes of this section, the child tax credit refund amount is the amount by which the aggregate credits allowed under part IV of subchapter A of chapter 1 for such first taxable year would have been increased if— `` (1) the per child amount under section 24 (a) (2) for such year were $1,000, `` (2) only qualifying children (as defined in section 24 (c) ) of the taxpayer for such year who had not attained age 17 as of December 31, 2003, were taken into account, and `` (3) section 24 (d) (1) (B) (ii) did not apply. ”

“ Our tax cuts will also help to send our children to college, with a tax deduction or 28 percent tax credit for up to $10,000 in college tuition a year; help to care for family members who need long-term care, through a $3,000 long-term care tax credit; help to pay for child care and to ease the burden on working families with three or more children ”

“ Working parents also need quality child care. So again this year, I ask Congress to support our plan for tax credits and subsidies for working families, for improved safety and quality, for expanded after-school programs. Our plan also includes a new tax credit for stay-at-home parents too. They need support as well.
Parents should never have to worry about choosing between their children and their work. ”

“ And it's a problem that's going to grow over time. Right now, the alternative minimum tax problem is predominantly a problem for more upper-income taxpayers than middle-income taxpayers. And that's why the President's proposal addresses it for those middle income taxpayers by taking into account the effect of the AMT on child credit. ”

“ By providing a tax credit of $500 per child to 26 million families, increasing the minimum wage, and cutting taxes through extending the Earned Income Tax Credit, we have helped millions of working families. ”

“ Q A congressional research economist yesterday was talking at the National Economics Club, and this might be a little wonky, but she said an unintended consequence of the new tax cut package is that certain families of four, earning, say between $25,000 and $30,000 a year, will not benefit from the tax rebate because it will be offset by the child care credit. ”

“ EXPANSION OF ADOPTION CREDIT AND ADOPTION ASSISTANCE PROGRAMS. (a) In General.— (1) Adoption credit.—Section 23 (a) (1) (relating to allowance of credit) is amended to read as follows: `` (1) In general.—In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter— `` (A) in the case of an adoption of a child other than a child with special needs, the amount of the qualified adoption expenses paid or incurred by the taxpayer, and `` (B) in the case of an adoption of a child with special needs, $10,000.''. ”

“ We want parents to care for their children. But under the Republican plan, single mothers struggling to preserve their families will have to pay $4 billion in fees for the Government's help in collecting child support they're legally due. That's a tax hike on responsible mothers and their children which will lower their already modest incomes. ”

“ Scienters are associated with penalties, not with taxes. The employer's factory is to be subject to inspection at any time not only by the taxing officers of the Treasury, the Department normally charged with the collection of taxes, but also by the Secretary of Labor and his subordinates, whose normal function is the advancement and protection of the welfare of the workers. In the light of these features of the act, a court must be blind not to see that the so-called tax is imposed to stop the employment of children within the age limits prescribed. ”

“ It was just such uncertainty in tax consequences that the Congress intended to and, we believe, did eliminate when it said that the child-support payments should be 'specifically designated' or, as the section finally directed, 'fixed.' It does not say that 'a sufficiently clear purpose' on the part of the parties would satisfy. It says that the written instrument must 'fix' that amount or 'portion of the payment' which is to go to the support of the children. ”

“ In 1993, I worked hard to expand this working family tax credit so that we in America could say that anybody who works full-time with children in their homes will not be in poverty. Now what the Congress wants to do is to roll back that working families' tax credit in a way that will impose a tax increase averaging $500 a family on families least able to pay it. This is a tax hike that literally will push many working families back into poverty. ”

“ Section 1203 relieves from liability to the tax any one who employs a child, believing him to be of proper age relying on a certificate to this effect issued by persons prescribed by a board consisting of the Secretary of the Treasury, the Commissioner of Internal Revenue, and the Secretary of Labor, or issued by state authorities. ”

“ To students of our form of government it is particularly interesting because of provisions [1] purporting to impose a tax on employers of child labor, for these represent an attempt by Congress to nullify a decision of the Supreme Court and grasp a power belonging to the states. The story of these provisions throws a flood of light on a method by which our Constitution is being changed.
[Footnote 1: Revenue Act of 1921, Title XII.]
The evils of child labor have long engaged the attention of philanthropists and lawmakers. ”

“ About 25 million families with children will see their child credit increase and will receive checks of up to $400 per child. And 136 million Americans who pay income taxes, including 23 million small business owners who pay taxes at the individual rate, will see their taxes lowered. ”

“ Every male citizen between the ages of twenty-one and sixty years is required to pay a poll tax of two dollars for the support of the schools. Five percent, of all collateral inheritances is also added to the state school fund, and an ad valorem state school tax, amounting to seven dollars for each child in the state over five and under seventeen years of age is annually levied. ”

“ Some seem to imagine that their interest in schools, and of course their moral obligation to support them, ceases with the education of their own children. This is a great error. The public has no right to levy a tax for the education of any particular child, or family of children; but its right of taxation commences when the education or plan of education is universal, and ceases whenever the plan is limited, or the operations of the system are circumscribed.
No man can be taxed properly because he has children of his own to educate ”

“ And, families making between $125,000 and $438,000 can receive a partial credit. And for the first time, the CDCTC will be fully refundable, making the credit fairer by allowing low-income working families to receive the full value of the credit towards their eligible child care expenses regardless of how much they owe on their 2021 taxes. ”

“ Any person who refuses entry or obstructs inspection is made subject to fine or imprisonment or both.
The law is attacked on the ground that it is a regulation of the employment of child labor in the states-an exclusively state function under the federal Constitution and within the reservations of the Tenth Amendment. It is defendant on the ground that it is a mere excise tax levied by the Congress of the United States under its broad power of taxation conferred by section 8, article 1, of the federal Constitution. ”

“ Disregarding for the moment the minority of some of the beneficiaries, we think not. So broad a basis would tax to a father the income of a simple trust with a disinterested trustee for the benefit of his adult child. No act of Congress manifests such an intention. Economic gain realized or realizable by the taxpayer is necessary to produce a taxable income under our statutory scheme. That gain need not be collected by the taxpayer. ”

“ The Child Labor Tax Law is title No. XII of an act entitled 'An act to provide revenue and for other purposes,' approved February 24, 1919, 40 Stat. 1057, 1138 (Comp. St. Ann. Supp. 1919, §§ 6336 7/8 a to 6336 7/8 h) . The heading of the title is 'Tax on Employment of Child Labor.' It begins with section 1200 and includes eight sections. ”

“ If we take all these steps, we will move a long way toward empowering parents to succeed at home and at work and ensuring that no child is raised in poverty. We can make these vital investments in health care, education and support for working families--and still offer tax cuts to help pay for college, for retirement, to care for aging parents and reduce the marriage penalty--without forsaking the path of fiscal discipline that got us here. ”