Jul 11 2019
Washington, D.C. — Today, U.S. Senators Marco Rubio (R-FL) and Mike Lee (R-UT) released statements after the Tax Foundation’s report on 2018 tax return data showed the positive impact the expanded Child Tax Credit (CTC) had for millions of American families. Their efforts secured a provision in the Tax Cuts and Job Act of 2017 that doubled the CTC from $1,000 to $2,000, expanded eligibility, and increased the refundability of the CTC from $1,100 to $1,400. The data from 2018 tax returns makes it clear the benefits of this effort. The number of people who received the CTC doubled, benefiting American families in every income bracket, with the exception of top income earners.
“There is no greater job than being a parent, but the cost of raising a family in the 21st century has become an obstacle for too many working Americans,” Rubio said. “You cannot have a strong country without strong families. Our successful push to double and expand the child tax credit provided significant tax relief to more working moms and dads across the country, and this new data shows it. I was proud to partner with Senator Mike Lee, Ivanka Trump, and members of the pro-family coalition on this important effort.
“As I said during the tax reform process: this is only the beginning,” Rubio added. “We must continue our work to orient our economic policies toward stable and prosperous families, including by further expanding the child tax credit and enacting a program for paid family leave.”
“Doubling the child tax credit delivered immediate and significant tax relief to the Americans who needed it most: working moms and dads,” Lee said. “Twice as many parents took the credit in 2018 as did before our reforms. Families in every income bracket below the super-rich saw the value of the child credit more than double, and the greatest beneficiaries were middle class families.
“I once again commend the president, Marco Rubio, Ivanka Trump, and the rest of the coalition fighting for family tax reform. In light of this great news, Republicans should start working to increase the child credit again as soon as possible.”