CCC&Y Spotlight — Coalition votes to support proposed Child Tax Credit bill

Jan 30, 2024 | CCC&Y Info & Events

The Board of Directors of the Coconino Coalition for Children & Youth has voted to support a proposed U.S. House of Representatives bill that would expand Child Tax Credit refunds for parents.

The bill, which has received broad bipartisan support, passed the House Ways and Means Committee last week by a 40 to 3 vote.

The three-year proposal is sponsored by U.S. Senate Finance Committee Chairman Ron Wyden (D-Ore.) and House Ways and Means Committee Chairman Jason Smith (R-Mo.).

“Sixteen million kids from low-income families will be better off as a result of this plan, and given today’s miserable political climate, it’s a big deal to have this opportunity to pass pro-family policy that helps so many kids get ahead,” Wyden stated on Jan. 16 in a U.S. Senate Committee of Finance media release. “At a time when so many people in Oregon and all across America are getting clobbered by rising rents and home prices, the improvements this plan makes to the Low-Income Housing Tax Credit will build more than 200,000 new affordable housing units. By incentivizing R&D, this plan is also going to promote innovation and help sharpen our economic competitiveness with China and the rest of the world. My goal remains to get this passed in time for families and businesses to benefit in this upcoming tax filing season, and I’m going to pull out all the stops to get that done.”

“American families will benefit from this bipartisan agreement that provides greater tax relief, strengthens Main Street businesses, boosts our competitiveness with China, and creates jobs,” Smith stated in that same media release. “We even provide disaster relief and cut red tape for small businesses, while ending a COVID-era program that’s costing taxpayers billions in fraud. This legislation locks in over $600 billion in proven pro-growth, pro-America tax policies with key provisions that support over 21 million jobs. I look forward to working with my colleagues to pass this legislation.”

January Contreras, chief executive officer and president of the Children’s Action Alliance, made a presentation on the bill to the board during its monthly meeting on Jan. 22.

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