Legislative Update by Congressman Mike Ross
Extending the Child Tax Credit to Those Who Need It Most
 
June 13, 2003
 
This week in Congress, the House of Representatives had an opportunity to include lower-income working families in the benefits handed out in the latest tax cut. 

As it stands now, some 25 million families will enjoy the child tax credit – but it leaves out working families with an income between $10,500 and $26,625 per year.  This means parents in a three-child household, who make $85,000, will get a $1,200 check from the government.  Meanwhile, three-child parents fighting to make ends meet on a household income of less than $26,625 - the income range of a new teacher, or a fireman, or even our men and women in uniform - will get absolutely nothing. 

It is simply wrong to enact a tax cut in the name of economic relief and not give that relief to hard-working families struggling to provide for their children.  While I voted against the overall tax cut last month, I have always supported extending the child tax credit because it helps families who need it most.   

In fact, I co-sponsored a bill that would have provided that relief – a fiscally responsible child tax credit extension that would have been paid for.  Unfortunately, that version was not allowed to come to the floor, and instead the House passed a version - buried in another tax package - that will only add to our mounting national debt.   

The tax cut signed into law last month will send this year’s federal budget deficit above $400 billion – the largest in our nation’s history.  This is not the answer to our economic troubles.  For this reason, I could not support the tax package that was brought before the house.  I will continue to fight for a fiscally responsible child tax credit, and for the 76,000 working families in Arkansas who need that relief.


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