Political Quotes

“as most of my colleagues know by now, we have been working for I believe about a year and a half--certainly throughout this tax reform process--to address the issue of the child tax credit in an effort to increase it. I am grateful that in this process, we have been able to increase the child tax credit to $2,000. That will help a lot of people. I have been asked by some people: Why isn't that enough? Why aren't you happy with that? The answer is that the people we most want to help are not going to be able to fully use it, and here is why. For them, for people who are making $30,000 or $40,000 or $50,000--you are a construction worker; you are a teacher; you are a firefighter; you are a welder; you are a bus driver--the backbone of America's workers-- their main tax liability is their payroll tax. Unless you allow the tax credit to apply fully not just to their income tax--many of whom don't have a high income tax liability but a payroll tax--they are not going to enjoy the full benefit. The result is kind of absurd if you do one without the other. The result is, if you make $500,000 a year and you have enough kids, you can use the whole credit, but if you don't make that much money--if you make, say, $25,000 a year--you won't get nearly as much of the credit even though you have paid the taxes. It kind of doesn't make any sense, right? We are trying to help people with the cost of raising children by allowing them to keep more of their own money.…”