Collins open to negotiating overhaul of child tax credit set to expire

The hill ^ | 12/21/2021 | Joseph Choi

[ChicagoConservative27]

Sen. Susan Collins (R-Maine) said on Tuesday she is open to discussing proposals to overhaul an expanded child tax credit included in President Biden's American Rescue Plan that is set to expire in the next few days.

“I am open to proposals that would support working families and reduce childhood poverty and look forward to working with colleagues of both parties on bipartisan solutions,” Collins said in a statement to the Bangor Daily News.

[RedElement]

It took me awhile to figure out why there was at least one tax preparation office in every strip mall in Hispanic neighborhoods. Hint: It wasn’t because they were filing self employment forms for their cash jobs.

[ctdonath2]

Come April 15, a staggering number of taxpayers will discover the tax credit they do often relied on to balance out the liability will no longer be available, having already been given and spent, leaving them owing thousands.

[redshawk]

I heard today on the radio that the “hatians” the horse whipped ones are suing America for free money and free citizenship......gotta love it....what a country.

[arthurus]

By identifying great numbers of asymptomatic people the faucists can add millions more “cases” the word that is supposed to scare everyone into getting the needle.

[hinckley buzzard]

Of course she is. Because Sh*t never stops stinking.

[technically right]

This will never end now. Going forward the discussions will be “it’s not enough, let’s double it” vs “how about we just increase it 25% and be fiscally responsible”

We’re hosed folks.

[ladyjane]

The child tax credit is like putting Miracle Gro on weeds.

[haircutter]

A woman who has never had a child...

She is the Congress person, who head is always shaking and signs of Parkinson disease.

She needs to resign due to health issues...wonder if she has been booster-ed?

[elpadre]

Sen. Graham said the same thing on Fox tonight.

Of course, the child credit program was part of the Trump agenda, I think!!

[Svartalfiar]

Don’t households with dependents already have an appropriate deduction for said dependents?

This is it. It's a refundable tax credit, and it's been around a while, they just keep making it bigger (last year was $2M per kid, this year's is $3M, or up to $3600 if the kid is under six). Also, the monthly payment thing is new, and all it is is advance payments on the tax credit. So instead of getting $3600 off at tax time for your two-year-old, you now get $300/mo for six months, and only $1800 at tax time. So the total credit is still the same amount on the year.