PRESS RELEASE: AN ENHANCED CHILD TAX CREDIT MUST IMPROVE REFUNDABILITY
Washington D.C., September 27, 2017 – As advocates for an expanded child tax credit, First Focus and the Niskanen Center welcome this morning’s “Big Six” Tax Statement, yet have reservations about the framework’s specifics.
“We applaud the Big Six in pledging a ‘significant increase’ to the Child Tax Credit in the framework released today. Regrettably, the framework also signals that the refundability of the Child Tax Credit will not change from current law,” say the Niskanen Center and First Focus in a joint statement.
“Organizations and policy experts from across the political spectrum agree that a larger, more refundable child tax credit would go a long way toward easing the crushing financial burdens facing working families. In contrast, the Big Six framework appears to use a larger Child Tax Credit to merely offset the elimination of the personal and dependent exemption, representing a bait and switch from the point of view of working class families.”
The Niskanen Center and First Focus believe that the tax package can and should be used to help families most in need. The groups have produced a bipartisan framework that includes principles that will make the Child Tax Credit work for everyone, giving kids from all walks of life the resources they need to grow up healthy and capable of achieving their full potential. For more information, visit www.expandthechildtaxcredit.com
The Niskanen Center is a Washington, D.C.-based libertarian think tank that works to change public policy through direct engagement in the policymaking process. First Focus is a nonpartisan advocacy organization dedicated to making children and families the priority in federal policy and budget decisions.