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Why a cut to the child tax credit in 2022 may not be the last
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cnbc.comThe enhanced child tax credit may expire in 2022, yielding a smaller financial benefit for parents. But that haircut may not be the last — the credit's value is scheduled to fall further in a few years' time.
Democrats are still trying to marshal 50 votes in the Senate for President Joe Biden's social policy and climate agenda, which would extend a temporary increase to the child tax credit for another year.
The American Rescue Plan, a pandemic-relief law, raised the credit's maximum value to $3,000 or $3,600 per child (depending on their age), from $2,000, in 2021. It also converted the tax break into a monthly income stream families started getting in July.
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