The following legislation introduced by Congressman Johnson is included in the tax reform bill: Refundable Child Tax Credit
Eligibility Verification Reform Act (H.
The EITC, along with the refundable child tax credit
, unemployment insurance, and food stamps have significant anti-poverty effects.
This benefit was a successor to three separate child benefits: the old Family Allowance program, a refundable child tax credit
and a nonrefundable child tax credit.
The threshold for the refundable child tax credit
was lowered to $8,500 from $12,050.
would retain some variant of the refundable child tax credit
and EITC to
Provisions included in the amendment are an extension of the refundable child tax credit
, providing relief from the marriage tax and estate tax reform.
Paulson floated the option of making such taxpayers eligible for a refundable child tax credit
of $200, a senior House aide said.
Base refundable child tax credit
and earned income credit on 2004 income.
Little noted in discussions of the Bush tax cut were the provisions that reduce taxes for lower, and middle-income families with children--the refundable child tax credit
, the expanded child and dependent care tax credit, and marriage penalty relief.
Families with three or more children will be eligible for a refundable child tax credit
in the amount of their Social Security taxes paid -- if that amount is greater than their earned income credit.
Religious leaders joined to support the valiant efforts of child advocates and low-income people's organizations who were able to insert a refundable child tax credit
into the legislation, one aimed at helping the nation's poorest children who had been completely left behind by the original White House tax cut proposal.
Sawicky and Robert Denk [March 12-26, 2001] indicate that one option for a fairer, better tax policy than the Bush tax plan would be a fully refundable Child Tax Credit