February 7 2024- The U.S. House of Representatives passed a bipartisan tax bill on Wednesday, including an extension of the child tax credit (CTC) through 2025. Although not as expansive as the pandemic-era CTC, the bill proposes an increase in the maximum refundable tax break to $1,800 per child for the 2023 tax year, with further increases in subsequent years. If the bill is approved by the Senate and becomes law soon, families filing their 2023 taxes may benefit from the expanded credit. However, the outcome in the Senate remains uncertain, and the bill requires bipartisan support to pass
House passes child tax credit bill that could give families a nearly $700 tax break as early as this year
< 1 min read
