WASHINGTON, D.C. – Today, Congressman Jason Smith introduced legislation that would make permanent the new and increased Child Tax Credit created by the Republican Tax Cuts.
“Becoming a parent is the most important job a mother of father will ever have, but our tax code needs to reflect the growing needs of working families. Since doubling the Child Tax Credit Missouri families have seen more money in their pockets, but they need certainty that this support will continue to be there for them. Making the Child Tax Credit permanent will allow families to plan, save, and invest in their future,” said Rep. Jason Smith
The Permanent Tax Relief for Working Families Act will make permanent the doubled Child Tax Credit of $2,000 per child, the $500 dependent credit, and increased refundability. Congressman Smith has always been a strong champion of the Child Tax Credit and will continue to support this provision of the tax code that supports American families.
While the initial Tax Cuts and Jobs Act passed by the U.S. House of Representatives in 2017 made the enhanced Child Tax Credit permanent, Senate rules prevented permanency. Without any action from Congress, the Child Tax Credit will decrease from $2,000 to $1,000 in the coming years.
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