https:\/\/finance.yahoo.com\/news\/child-tax-credit-gets-small-boost-in-trumps-tax-bill-but-millions-of-families-are-left-out-215136488.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"“The popular child tax credit will receive a slight boost from President Trump\u2019s signature tax and spending bill \u2014 but there are caveats.<\/p>\n
Currently, taxpayers who make under $200,000 annually as a single filer, or $400,000 if filing jointly, can qualify for a partially refundable credit of up to $2,000 for each child they claim as a dependent who is under age 17 and a US citizen or qualifying noncitizen.<\/p>\n
The new legislation increases the credit to a maximum $2,200 per child. Without the bill, the maximum credit would have reverted to $1,000.<\/p>\n
But the increase, which amounts to a 10% bump, follows years of rising prices that have chipped away at the value of the original benefit. And many extremely low-income children \u2014 in addition to US citizen kids of undocumented parents \u2014 will be locked out of the payments altogether.”<\/p>\n
…<\/p>\n
“To qualify for the refundable portion of the child tax credit, which is called the \u201cadditional child tax credit\u201d and can be worth up to $1,700, taxpayers must earn at least $2,500 in annual income. (A refundable tax credit can lower tax liability past zero, potentially generating a refund.) Families who make less than that receive no benefit, while many more children are in low-income households that earn just enough to receive part of the benefit but not enough to receive the full payment.”<\/p>\n
…<\/p>\n
“The average benefit for taxpayers with children who made between $10,000 and $20,000 in 2022, for example, was $800, according to the Congressional Research Service. That pay range includes people who worked full-time jobs at the federal minimum wage. Families earning between $200,000 and $500,000, meanwhile, saw an average benefit of $2,810.”<\/p>\n
https:\/\/finance.yahoo.com\/news\/child-tax-credit-gets-small-boost-in-trumps-tax-bill-but-millions-of-families-are-left-out-215136488.html<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[905,1236,542,221,906,170],"class_list":["post-18463","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-bill","tag-child-tax-credit","tag-congress","tag-donald-trump","tag-legislation","tag-trump"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/18463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18463"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/18463\/revisions"}],"predecessor-version":[{"id":18464,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/18463\/revisions\/18464"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}