The Child Tax Credit (CRS Report for Congress)
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| Release Date |
Revised March 31, 2010 |
| Report Number |
RL34715 |
| Report Type |
Report |
| Authors |
Maxim Shvedov, Analyst in Public Finance |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
Absent new legislation, several factors would significantly limit the benefits of the child taxcredit beginning in 2011 compared to 2010. First, due to the expiration of the tax cuts firstenacted under EGTRRA, the maximum amount of the credit reverts from $1000 per child to$500. Second, families with one or two children would no longer be eligible for a refundableportion of the credit. Third, the formula capping the amount of such a refund would be lessgenerous than the one in place in 2010. The President's FY2011 budget proposal assumes theextension of these tax cuts and the related provision of ARRA past 2010 in its baseline projectionof current policy.This report will be updated as legislative action warrants.Bills: H.R. 1
