The All-American Tax Relief Act provides immediate tax relief for working families and for our military. Immediate tax relief. It does it in a number of ways. A tremendous benefit to working and military families. In fact, not only do we recognize that we increase the child tax credit in the legislation the President signed a few weeks ago from $500 to $1,000 but we extend that through the end of the decade. Our friends on the other side of the aisle would like to see it sunset in a couple of years and drop back to $700. I would also note that we eliminate the marriage tax penalty in the child tax credit. One of the great successes of the Republican majority is we have targeted and worked to eliminate the marriage tax penalty; but in the child tax credit, it still exists. If you make $75,000 as a single person, you can claim the full child tax credit. But you can only claim the full child tax credit as a married couple if you make up to $110,000. That is not right. Those who are joint filers, men and women who happen to be married who are both in the workforce, if you want to eliminate the marriage tax penalty and treat them equally and fairly, you should allow a married couple to earn twice as much as a single and still be able to qualify for that credit without being punished for being married.
Editor's note · Context
Discussing the All-American Tax Relief Act and its impact on tax credits for families.
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