There were a few bright spots in the tax cuts, and we couldn’t have that!
Most taxpayers will receive a $400-a-child check in the mail this summer as a result of the law, which raises the child tax credit, to $1,000 from $600. It had been clear from the beginning that the wealthiest families would not receive the credit, which is intended to phase out at high incomes.
But after studying the bill approved on Friday, liberal and child advocacy groups discovered that a different group of families would also not benefit from the $400 increase â€” families who make just above the minimum wage.
Well, ya know, they had to get the bill down to $350 billion, and they certainly couldn’t cut out any of the dividend cuts, so now the familes of 1/6 of all children don’t get the tax cut. The same families that would use the money the fastest by injecting it into the economy, instead of saving. The same group that mosts needs the money because of their poor economic situation. Hello? Is this thing on?