WASHINGTON D.C. (WTNH) – Congresswoman Rosa DeLauro (CT-03) has introduced a bill that would expand the Child Tax credit program. The bill introduced Thursday in the U.S House of Representatives is called the Child Tax Credit Improvement Act. DeLauro says the bill builds on the success of the Child Tax Credit by indexing the value of the credit and raising the amount for families with young children. The legislation is part of a three-bill tax package that democrats introduced Thursday aimed at supporting middle class families.
“The Child Tax Credit Improvement Act will help millions of families across the United States who are striving to provide the best possible future for their children,” said Congresswoman DeLauro. “The greatest economic challenge facing our country today is that Americans are working in jobs that just do not pay them enough, but we must do everything we can to ensure that families have the resources to succeed. Increasing the value of the Child Tax Credit for families with a child under the age of six has the potential to positively impact a child’s health, education, and future.”
The bill would index the value of the Child Tax Credit with inflation and increase the value of the credit for families with young children under the age of 6 to $3,600. DeLauro says indexing the value of the credit keeps the real value of the CTC constant, helping families to maintain the purchasing power of the credit. According to DeLauro, the most recent Census report on the Supplemental Poverty Measure showed that refundable tax credits, specifically the Child Tax Credit and the Earned Income Tax Credit, do more to lift children out of poverty than any other federal policy.