Kenny Hulshof: “The child credit actually, we phase out for upper-income individuals. In fact, families that have children that are…”

“The child credit actually, we phase out for upper-income individuals. In fact, families that have children that are above a certain income threshold do not qualify. Their children do not qualify. I think what is interesting in all of this debate is night after night when we debate this motion to instruct and we talk about trying to provide for the children that we are only talking about some of the children; that is, children of the successful families do not qualify. But that is neither here nor there, but I wanted to set the record straight that as she talks about tax cuts for the wealthy regarding a child credit, those successful families do not qualify for the child credit. What I would say to the gentlewoman, too, who just spoke regarding the Ramirez family and the teacher and mechanic with children, under existing law, and again this is sort of back of the envelope calculations, but under existing law, as I understand it, the Ramirez family already is entitled to the refundable child credit; in fact, a family with children whose annual income from salaries and wages is roughly $25,000. Their Federal income tax liability before the child credit is roughly $885. Their tax liability after the child credit is zero.”