US ELECTION 2024
Find out what Trump and Harris plan to do with the Child Tax Credit program
Here are the proposals from presidential candidates Kamala Harris and Donald Trump on the Child Tax Credit.
Every election needs a clear understanding of candidate’s policy positions. Kamala Harris and Donald Trump have unveiled plans they would aim to put into practice if they were to reach the White House on issues of migration, health, as well as in relation to taxes.
Both have indicated what changes they would make regarding tax credits, including the Child Tax Credit. This program was expanded during the covid-19 pandemic, with a wider catchment of eligible families as well as more generous payments.
What Trump and Harris plan to do with the Child Tax Credit
Kamala Harris’ has focused her actions on middle-class families, proposing several measures, including an expansion of the Child Tax Credit.
One of her main proposals is to reduce taxes for middle- and working-class families. This is done through the Child Tax Credit and the Earned Income Tax Credit.
“Through these two programs, millions of Americans can keep more of their hard-earned income,” states her campaign website.
Her proposal includes expanding the Child Tax Credit to provide a $6,000 tax cut to families with newborn children.
According to the Committee for a Responsible Federal Budget, her plan to expand the Child Tax Credit would cost $1.2 trillion over 10 years. In addition to the $6,000 credit for newborns, his proposal includes expanding the Child Tax Credit to $3,000 and $3,600 for young children. Donald Trump’s running mate JD Vance has said he is also in favor of expanding the Child Tax Credit.
“I would love to see a $5,000 child tax credit per child,”Vance said on “Face the Nation with Margaret Brennan” in August, according to a report by CBS News. “President Trump has long publicly supported a child tax credit, and I think we want to see it apply to all American families.”
Unlike Harris, Vance noted that he would like to see a Child Tax Credit without income thresholds, as the current tax credit phases out for single taxpayers making more than $200,000 and married couples with more than $400,000 in income.
Currently, the Child Tax Credit is $2,000. During the pandemic, it was extended to $3,600 per child. However, in 2026, the tax credit will return to $1,000 per child.