The tax package passed by the United States House of Representatives last month is not yet approved, but the supporters say it could restore some poverty-reducing benefits that reached millions of Americans under the 2024 child tax credit expansion.
Who can benefit from the new legislation of the 2024 child tax credit?
Most of the low-income families who are not presently eligible for the full 2024 child tax credit would see some increase just within the first year of the three-year deal, according to an analysis by the Center on Budget and Policy Priorities.
The agency estimates within the initial year of the new 2024 child tax credit law if enacted, 16 million of the 19 million children in low-income families that don’t receive the full 2024 child tax credit t because of low earnings would benefit.
States topping the list of where those children live and can benefit 2024 child tax credit include California, Texas, Florida, New York, Georgia, Illinois, Ohio, North Carolina, Pennsylvania, and Michigan, in that order.
Lawmakers should pass this the legislation for 2024 child tax credit
Lawmakers should pass this the legislation for 2024 child tax credit that would considerably boost the incomes of millions of low-income families and solve child poverty.
A successful bipartisan, bicameral legislative package for the 2024 child tax credit would be a rare win for both lawmakers and the administration.
Read Also: How Much You Will Receive And The Amounts Of The New Child Tax Credit