An enhanced version of the Child Tax Credit (CTC) that was available for 2021 may be dead, but it’s not forgotten. A group of U.S. Senate Democrats have proposed the Working Families Tax Relief Act, which would reintroduce an enhanced $3,000 CTC for children aged 6 to 17 ($3,600 for children aged 0 to 5) and make it permanent. The CTC would be delivered monthly to help boost families’ financial stability and be fully refundable. Proposed legislation also updates the Earned Income Tax Credit, making it available to people as young as age 19, with no upper age limit. Democrats say changes to both credits would boost the incomes of 40 million families.
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