By the end of Monday, tens of millions of American families will have claimed their child tax credit on their 2023 tax returns. But for many families, that credit will be hundreds, or even thousands, of dollars smaller than it could have been. And all the blame for those smaller credits belong to Senate Republicans. In 2021, the American Rescue Plan temporarily increased the tax credit from $2,000, where it was set under the 2017 tax cuts, to $3,000 (or $3,600 for children under 6). It also made...
If you're still waiting on your child tax credit refund to arrive, we'll
Tax Day is in two days, which means you're running out of time to claim your child tax credit money. Here's how the credit works this year.
The American Rescue Plan, a landmark legislation, has not only increased the Child Tax Credit but has also broadened its reach, aiming to provide substantial assistance to families caring for children. This expansion, hailed for its potential to significantly alleviate child poverty, has seen several revisions, including increased credit amounts, full refundability, and an expanded scope, particularly catering to families previously excluded from its...
After the House took action in January, it is now up to the Senate to safeguard American businesses from a harmful Biden joint employer rule, which promises to cost franchises billions, slash jobs, and dramatically increase workplace litigation. With a floor vote expected on Wednesday, the resolution of disapproval for the joint employer rule under the Congressional […]
A bill that could ban TikTok is now all but certain to become law. The Senate approved a measure that requires ByteDance to sell TikTok or face a ban, in a vote of 79 - 18. The “Protecting Americans from Foreign Adversary Controlled Applications Act,” will next head to President Joe Biden, who has said he would sign the bill into law. While it’s far from the first effort to force a ban or divestment of the social media app, the bill managed to draw far more support than previous attempts. The...
What, they didn’t like ‘Who TF Did I Marry?’
SubmittedA tax credit is an amount taxpayers claim on their tax return generally to reduce their income tax. Eligible taxpayers can use them
In a 79-18 vote, the U.S. Senate voted to pass a package that included Ukraine aid, Israel aid, and other items even as the America's ever-expanding national debt is over $34 trillion. Two Democrats, independent Sen. Bernie Sanders, and 15 Republicans voted against passage, according to the Washington Post.The package now heads to President Joe Biden, who plans to sign it. — (@) Senate Majority Leader Chuck Schumer described the package as "one of the...
The bill gives Bytedance nine months to force a sale with a 90-day extension, which is effectively a year to complete the deal. © 2024 TechCrunch. All rights reserved. For personal use only.
Tweaking property investor taxes could save the federal budget billions and boost home ownership, even with exemptions for those operating under the old rules, analysis commissioned by two senators suggests. Independent senators David Pocock and Jacqui Lambie want changes to capital gains tax and negative gearing back on the agenda, commissioning an analysis on the […]
By tying a potential TikTok ban to a bipartisan foreign aid deal, the bill