FOR IMMEDIATE RELEASE
February 1, 2024
Contact: Emma Bittner
(972) 510-3395 | Emma.Bittner@younginvincibles.org
House Prioritizes Young Parents in Passing Bipartisan Legislation to Expand The Child Tax Credit
(Washington, DC) – Yesterday, the House of Representatives passed, in a 357 to 70 vote, crucial bipartisan legislation that expands the Child Tax Credit (CTC), which helps parents who have a low income. The Tax Relief for American Families and Working Americans Act is a monumental win for the war on poverty in the U.S. Estimates suggest it will benefit 16 million children and move 400,000 above the poverty line. According to Census Data, we estimate that the expansion will benefit 1.6 million young adult parents ages 18-34.
Poverty is a policy choice in the U.S., and Young Invincibles is thrilled to see Congress begin to pass policies that address it. Young Invincibles commends legislators for working together to get a finalized package passed in the House of Representatives. While the corporate tax cuts in the package only save wealthy corporations more money, the expansion of the CTC was too valuable for this negotiated package to fail.
There is substantial work that still needs action. However, passing this expansion of the CTC is the first step on the path.
In response, Alexander Lundrigan, Workforce Policy and Advocacy Coordinator at Young Invincibles said:
“Today dealt a significant blow against poverty in the U.S. This bill is one step closer to helping millions of young adult parents and their children. This proposed expansion is estimated to lift nearly half a million children above the poverty line and is essential to support young families, propelling them forward to a future of economic opportunity. The expanded CTC would annually increase the maximum credit amount until it caps at $2,000 in 2025, and adjusts qualifiers so more families receive the credit. To continue this fight against poverty, we must consider those experiencing it without children. Millions of income-eligible childless young adult workers are barred from the Earned Income Tax Credit (EITC) because of age. Legislators should look to reform programs like the EITC next.
The bill now enters the Senate, which should pass it urgently so parents can use the expanded CTC for this tax year.”
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Young Invincibles (YI) is a national advocacy and policy nonprofit organization focused on amplifying the voice of young people in the political process at the local, state, and federal levels. YI focuses on issues impacting young adults ages 18 to 34 in higher education, health care, economic security, and civic engagement. Our offices include Washington, D.C., California, Colorado, Illinois, New York, and Texas. For more information, please contact Emma Bittner at (972) 510-3395 or emma.bittner@younginvincibles.org