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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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