the current budget resolution assumes the growth package will immediately raise the $600 child tax credit to $1,000. My amendment is going to require that the growth package extend that $1,000 child credit until the year 2013. The child credit is currently $600, and it is scheduled to go up to $1,000 in 2010. The problem we have with this, however, is that in the year 2011, you are going to have a child credit of $1,000. But the following year, that is going to drop in half to $500. In other words, families with two children will face a $1,000 tax increase in the year 2011. A family of three is going to face a tax increase of $1,500. I don't think any of us would suggest that is fair. This is to help the families, particularly in times when we have some economic difficulties. This is an amendment that will help America's families. I urge Members' support.
Editor's note · Context
Discussing an amendment to extend the child tax credit during budget resolution debate.
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