Democratic presidential nominee, Vice President Kamala Harris and Republican vice presidential nominee, Sen. J.D. Vance recently put forth differing views on the future of the Child Tax Credit (CTC). Harris proposes to restore enhancements to the CTC under the American Rescue Plan Act (ARPA). Under ARPA, the CTC amount was $3,600 for children under six years old and $3,000 for children older than six. Harris also proposes increasing the CTC to $6,000 for the first year of a child’s life. Sen. Vance proposes boosting the CTC to $5,000 per child. The costs of these proposals, based on estimates from nonpartisan groups, range from $1.6 trillion to $3 trillion over 10 years.
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