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The Child Tax Credit: To Expand or not to Expand?
Jul 3, 2024
Kevin Corinth, senior fellow at AEI, discusses the Child Tax Credit's evolution, work requirements, and poverty reduction. The debate on expanding the credit, implementing universal basic income for kids, and navigating trade-offs in income support programs are explored. Critiques on the credit expansion's impact on work incentives, parental behavior, and government support for families are also discussed.
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Quick takeaways
- The history of the Child Tax Credit shows bipartisan origins and gradual increase in benefits.
- The temporary expansion of the Credit during the pandemic led to debates on creating a child allowance or universal basic income for kids.
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Child Tax Credit Debate Overview
Expanding or not expanding the Child Tax Credit is a debated issue with implications for workforce participation. The history of the tax credit shows bipartisan origins and gradual increase in benefits. Kevin Corinth's research highlights the shift of the credit towards a welfare program focus and away from tax policy.
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Discover
highlights
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