The original child tax credit was passed in 1997 by a Republican-controlled Congress. Both Vice President J.D. Vance and U.S. Rep. Kweisi Mfume of Baltimore grew up in poverty themselves. The child ...
The median annual cost, according to the study, is $22,850. Which is why, politicians have been talking about the Child Tax Credit in recent years, which could save families thousands of dollars.
The Tax Cuts and Jobs Act of 2017, or TCJA, temporarily increased the maximum child tax credit to $2,000 from $1,000. Without action from Congress, the higher benefit could expire after 2025.