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  1. #1
    Senior Member JohnDoe2's Avatar
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    House votes to limit child tax credit for immigrants

    House votes to limit tax credit for immigrants

    House votes to boost child tax credit for high-income families, restrict it for immigrants

    1 hour ago

    WASHINGTON (AP) -- The House passed a bill Friday that would gradually increase the popular child tax credit and make it available to more families with higher incomes.

    However, millions of low-income families would lose the $1,000-a-child credit in 2018, when enhancements championed by President Barack Obama are set to expire.


    The bill also aims to make a dent in illegal immigration by prohibiting people without Social Security numbers from claiming a portion of the credit reserved for low-income families.


    The bill passed by a vote of 237-173.


    House Republicans say the bill strengthens the tax credit by increasing it as inflation rises, and by making it available to more middle-income families.

    "It is time we make some simple improvements to the child tax credit, so it keeps up with the cost of raising children," said Rep. Dave Camp R-Mich., chairman of the tax-writing House Ways and Means Committee.

    The White House threatened to veto the bill, saying it favors high-income taxpayers over the poor, while adding $90 billion to the budget deficit over the next decade.


    Five million of the poorest low-income families would lose the credit in 2018, the White House said. An additional 6 million low-income families would see their tax credits reduced.


    The bill "would raise taxes for millions of struggling working families while enacting expensive new tax cuts without offsetting their costs, reflecting fundamentally misplaced priorities," the White House said.


    House Republicans dispute the Democrats' argument, saying the bill is silent on low-income families. Current law calls for the enhancement for low-income income families to expire. The bill simply lets it happen.


    "The opponents make a false claim, that somehow this bill eliminates benefits for millions of low-income families," Camp said. "That's just wrong."


    Under current law, the child tax credit is gradually reduced and phased out for individuals making more than $75,000 a year and married couples making more than $110,000 a year.


    House Republicans say the income limit for married couples amounts to a marriage penalty because it's less than double the limit for single tax filers.


    The bill would increase the income threshold for married couples to $150,000, allowing more families with higher incomes to claim it. The bill would index the income limits to inflation, meaning they would increase over time as consumer prices rise.


    The amount of the credit would also increase with inflation, rising above $1,000 as consumer prices go up.


    At the other end of the income spectrum, the child tax credit is also available to families that don't make enough money to pay any federal income taxes.

    These families get payments similar to tax refunds when they file their tax returns.


    In 2009, Obama signed a law that made the payments available to more low-income families — the poorest of the working poor. That provision, which has since been extended, is scheduled to expire at the end of 2017.


    Democrats see these types of payments as an important tool to fight poverty — and as a way for low-income families to benefit from the tax code.


    Some Republicans say these provisions are simply more government expenditures disguised as tax breaks.


    "This is basically a benefit check handed out by the IRS," said Rep. Sam Johnson, R-Texas.


    The bill would require taxpayers claiming these payments to provide a Social Security number, making it hard for immigrants to claim them, whether they are in the country legally or not.


    The requirement would save the Treasury $24.5 billion over the next decade, according to the nonpartisan Joint Committee on Taxation, which analyzes tax bills for Congress.

    http://news.yahoo.com/house-votes-li...163914122.html

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  2. #2
    Senior Member JohnDoe2's Avatar
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    GOP Bill Creates Tax Break for Americans Making Six Figures, Ignores Expiring Tax Credit for Low-Income Families

    —By Erika Eichelberger
    | Fri Jul. 25, 2014 7:47 AM EDT


    Shawn Hempel/Shutterstock

    On Friday, the House will vote on a Republican bill that ignores an expiring tax credit for millions of low-income families, while handing one to better-off Americans.

    The bill, introduced by Rep. Lynn Jenkins (R-Ks.), changes the way the federal child tax credit works by raising the eligibility cap for married couples. At the same time, the legislation would allow a 2009 child tax credit increase for low-income families to expire at the end of 2017. Here's how that would play out in the coming years. A married couple with two children that bring in $160,000 a year would get a new annual tax cut of $2,200, according to an analysis by the left-leaning Center on Budget and Policy Priorities (CBPP). A single mother with two kids who makes $14,500 a year would lose $1,725 annually.

    "The big winners would be the more-affluent families who would become newly eligible for the [child tax credit]," tax experts at the CBPP noted Tuesday. "The losers would be millions of low-income families who are doing exactly what policymakers often say they want these people to do—working, even at low-wage jobs."

    Here's a look at how poor, middle-class, and wealthier Americans would be affected by the bill, via the CBPP:


    The 2009 law that increased the child tax credit for poor families did so by lowering the income level required for a partial credit to $3,000 and reducing the annual income required for a full credit to $16,333. If it expires, 6 million children and roughly 400,000 veterans and military families would lose all or part of their child tax credit.

    A spokesman for Jenkins explains that the reason the bill ends up extending the child tax credit to wealthier Americans is that it gets rid of the marriage penalty, which treats a married couple's total income differently than the sum of two separate incomes. The way the child tax credit is currently structured, a single person making up to $75,000 is eligible for a full credit. But for a married couple filing jointly, full credit eligibility cuts off at $110,000 instead of at $150,000, the couple's combined total income. Jenkins' bill moves the full credit cut-off to $150,000. (As income increases above these thresholds, the child tax credit phases out slowly.

    Under Jenkins' bill, for instance, a couple with two kids could still get the credit if they make up to $205,000.)

    Jenkins' office adds that the reason that the legislation does not extend the low-income child tax credit increase is that this provision doesn't expire until the end of 2017, and future legislation can address it.

    But a Democratic aide familiar with the bill says this justification is disingenuous, adding that if GOPers wanted to extend the low-income provision, they would. All 22 Republicans on the House ways and means committee voted for Jenkins' bill, while all 15 Dems on the committee voted against it. "[Republicans] can say whatever they want," the aide says. But "they are prioritizing making permanent [all the tax provisions] that they want to be permanent, and getting rid of everything else." For instance, Republicans are already pushing to extendanother tax measure that expires at the end of 2017 that is designed to help parents and students pay for college expenses.

    The Democratic staffer adds that if Jenkins' bill were to become law, and the low-income provision were left hanging on its own, it would be very difficult to "galvanize Congress into action" to pass a separate extension for the measure.

    "What carries it along is that it's bundled together," he says. Chuck Marr, one of the authors of the CBPP study, agrees that the most obvious way for the House to extend the low-income measure would be to include it in Jenkins' bill.

    Even if the legislation passes the House, the bill—which would cost the government $115 billion over ten years—has little chance in the Democratic-controlled Senate.

    http://www.motherjones.com/mojo/2014...+%7C+MoJoBlog)
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  3. #3
    Senior Member JohnDoe2's Avatar
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    NO AMNESTY

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