POLITICO
The Child Tax Credit is poised to become the biggest federal tax break, thanks to bipartisan support.
A child is lifted by her parents at a street corner in downtown Seattle. | Ted S. Warren/AP Photo
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In 1997, Congress created a relatively modest tax break for people with children.
Now, a little more than 23 years later, the Child Tax Credit is poised to become the biggest break in the tax code.
As part of their coronavirus relief package, Democrats are proposing to almost double spending on the provision. They want to increase the maximum credit to as much as $3,600 for children under the age of 6, from the current $2,000. And they’d allow people to begin claiming it as a monthly payment rather than having to wait until tax time each year.