Download
HTML Embed
HTML EMBED
Click to Copy

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
This Is Uncomfortable
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report

How the child tax credit would change under the House and Senate proposals

Mitchell Hartman Dec 4, 2017
Share Now on:
HTML EMBED:
COPY

Now that the House and Senate have passed their versions of the tax bill, Republicans are going to start negotiating which items will be included in the final plan. Both the House and Senate would increase the child tax credit and make folks with higher incomes eligible. Critics say lower-income families would be largely left behind. The House would raise the current $1,000 child tax credit to $1,600, and the Senate would raise it to $2,000. But the proposed changes would help upper-income families more than those in low-income brackets. The reason for this has to do with what’s called a “refundable” tax credit. It gives you money back on what you owe, or adds to your refund, at tax time. But the child tax credit is only “partially refundable.” Since a lot of low-income working families don’t pay federal income taxes, they don’t get a huge benefit. And that would not change much under either the House or Senate version. 

Click the audio player above to hear the full story. 

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.