Congressman Ryan Mackenzie from Pennsylvania’s 7th Congressional District has urged the US Senate to maintain the Child Tax Credit expansions included in the House-passed budget reconciliation bill. Speaking on the floor, Mackenzie highlighted the significance of tax relief for working families amidst rising prices.
“Over the last four years, every American has felt the pain of inflation, and this financial strain has hit working families particularly hard,” stated Congressman Mackenzie. “Changes to the tax code, including the expanded Child Tax Credit, will help save the average Pennsylvania family $1,300 a year. It’s time to deliver the tax relief that working families so desperately need. I call on our colleagues in the Senate to protect these provisions. After four years of rising costs, parents deserve real relief.”
Mackenzie has consistently supported tax relief for working families throughout his political career. He successfully increased the Child and Dependent Care Tax Credit during his tenure in the Pennsylvania State House and has introduced several tax reform initiatives in Congress aimed at assisting working families.
The recently passed House budget reconciliation bill contains provisions designed to provide significant tax relief to working families:
– Permanently doubles the Child Tax Credit from $1,000 to $2,000 as initially enacted by the 2017 Tax Cuts and Jobs Act.
– Adds a $500 bonus to the Child Tax Credit through 2028.
– Indexes the Child Tax Credit to inflation.
– Offers additional benefits such as a $1,000 bonus to the standard deduction and exemptions from taxes on overtime and tips.
These measures aim to alleviate financial pressures faced by families due to ongoing economic challenges.
