Congressman Mackenzie Calls on Senate to Protect Child Tax Credit Expansion

WASHINGTON, D.C. — Congressman Ryan Mackenzie, representing the Greater Lehigh Valley in Pennsylvania’s 7th Congressional District, has called on members of the US Senate to protect the Child Tax Credit expansions that were passed by the House as part of the budget reconciliation bill. During a floor speech this evening, Mackenzie emphasized the importance of delivering tax relief to working families in the aftermath of price increases.

“Over the last four years, every American has felt the pain of inflation, and this financial strain has hit working families particularly hard,” said Congressman Mackenzie during his speech.  “Changes to the tax code, including the expanded Child Tax Credit, will help save the average Pennsylvania family $1,300 a year. It’s time to deliver the tax relief that working families so desperately need. I call on our colleagues in the Senate to protect these provisions. After four years of rising costs, parents deserve real relief.”

Congressman Mackenzie has been a longtime advocate for providing tax relief for working families. In the Pennsylvania State House, he successfully led the charge to increase the Child and Dependent Care Tax Credit. In Congress, he has introduced a series of tax reforms aimed at delivering relief to working families. The budget reconciliation bill that recently passed the House includes several key provisions that have the potential to deliver thousands of dollars of tax relief to working families.

Permanently Double the Child Tax Credit: Permanently codifies the doubling ($1000 to $2000) of the Child Tax Credit from the 2017 Tax Cuts and Jobs Act that was set to expire.

Add a $500 Bonus to the Child Tax Credit: Increases the Child Tax Credit by an additional $500 through 2028.

Index the Child Tax Credit to Inflation: Permanently preserves the value of the Child Tax Credit by indexing it to inflation.

Additional Tax Benefits for Working Families: $1000 bonus to the standard deduction, no taxes on overtime, no taxes on tips, a tax deduction on loans for American-made cars, and more.

View the speech HERE 

 

Information provided to TVL by:
Arnaud Armstrong