Expand the Child Tax Credit Without Cutting Corporate Taxes

New legislation is in the works to expand the child tax credit. Expansion of the child tax credit could lift over 400,000 children out of poverty (1) — but with a catch: Cutting corporate taxes. 

Republican lawmakers are yet again finding a way to bail out corporations. Instead of using government resources to expand the tax credit, it will be large corporations who benefit. The legislation would also provide “continuous flexibility for businesses forced to borrow at higher interest rates to meet their payroll obligations and expand their operations.”

The bill passed the House on January 31, and now faces an uphill climb in the Senate, where progressives are fighting to remove some of the corporate tax breaks.

Sign the petition today urging Senate Democratic leader Chuck Schumer to expand the child tax credit without cutting corporate taxes. 

“Child poverty is a problem. Corporations paying too much in taxes is not,” said Steve Wamhoff, federal policy director at the Institute on Taxation and Economic Policy. “Unfortunately too many members of Congress have refused to direct resources to help children in poverty unless an equal amount of resources is simultaneously directed towards corporate tax cuts.”

Lawmakers should not be using the child tax credit as bait to cut corporate taxes. 

We agree. Sign the petition to expand the child tax credit without cutting corporate taxes. 

1. https://www.cbpp.org/press/statements/reported-proposal-to-expand-child-tax-credit-would-lift-as-many-as-400000-children