Kent Conrad: “This bill increases the child tax credit from $600 to $1,000 effective back at the beginning of this year. My amendment…”

“This bill increases the child tax credit from $600 to $1,000 effective back at the beginning of this year. My amendment simply takes it back another year to the beginning of 2002. This is an efficient way of targeting money to those who are most likely to use it to give stimulus to the economy. I offset the additional cost by delaying part of the final reduction in the top marginal rate for a year and a half. This asks the top 1 percent, actually less than 1 percent of the taxpayers, to take part of their reduction somewhat later. It gives a benefit to 27 million American families by asking less than a million American families to wait for the final part of their additional tax reduction for a year and a half.”