Today news
About the same in other media
01.12 - 14:21
Child tax credit may plunge to $1,000 from $3,600 per kid after 2025
Reading now: 300
cnbc.comThe child tax credit is poised to get a significant haircut by mid-decade, even if Democrats pass the most recent version of their $1.75 trillion social and climate plan.
Starting in 2026, the value of the tax break for parents would plunge by more than two-thirds relative to current law, to $1,000 per child from a maximum $3,600, if Congress doesn't intervene.
That possibility is due to key aspects of two laws: a 2017 tax law passed by the Republican-controlled Congress, and the American Rescue Plan passed in March by the current Democratic majority.
Both laws raised the credit's value (among other changes) — but only temporarily.
More from Personal Finance:Same-sex couples may get tax break from Democrats' social planNearly half of all
Read more on cnbc.comAbout this in other media
How Elon Musk’s tax bill is falling as Tesla’s share price wanes fnlondon.com /2 years ago
Binance US may raise ‘couple hundred million’ in funding, CEO says economictimes.indiatimes.com /2 years ago
Senator assures there will be clarity in US Infra bill’s tax reporting requirements ambcrypto.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
