After failing to repeal former President Barack Obama’s federal health-care law, President Donald Trump and Republicans in Congress are turning to other issues, including tax reform with a former primary rival pushing his.
This week, U.S. Sen. Marco Rubio, R-Fla., paired up with U.S. Sen. Mike Lee, R-Utah, to highlight their proposal to expand child tax credits. Rubio and Lee have been pushing tax reform in recent years including adding more child tax credits.
Under their “Economic Growth and Family Fairness Tax Plan,” Rubio and Lee call for allowing an additional $2,500 tax credit to families with children while keeping the current $1,000 tax credit per child in place. “The expanded child tax credit would be refundable up to each taxpayer’s combined federal income and payroll tax liability, and would be counted only after all other tax credits are factored in,” Rubio’s office noted. Earlier this summer, the Trump administration offered some support for the proposal.
On Tuesday, the Sutherland Institute released an analysis which found that many lower and middle income families across the nation would benefit if Rubio’s and Lee’s proposal was incorporated into tax law.
Sutherland Institute Executive Director Derek Monson wrote the analysis and praised Rubio’s and Lee’s proposal.
“The Lee-Rubio expansion of the child tax credit both strengthens families and encourages economic equality,” said Monson. “It does the former by offering tax relief to families that strengthens their financial position. It does the latter by returning a proportionally larger amount of income to lower-income and middle-income families than to upper-income families.”
Rubio welcomed the support.
“Tax reform should be grounded in the daily realities of family life: household budgets, food on the table, and equipment for kids’ sports teams,” said Rubio. “As the Sutherland Institute’s research shows, expanding the child tax credit would provide meaningful tax relief to working families across America.”
“Providing relief for working families – especially relief from the parent tax penalty – is essential for 21st century reform,” said Lee. “The Sutherland Institute’s detailed new analysis shows that an expanded child tax credit is one surefire way we can help them."
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