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CNN At This Hour With Kate Bolduan October 28, 2021 15:53:00 - Vimarsana News

CNN At This Hour With Kate Bolduan October 28, 2021 15:53:00

Even more, they don't have that much tax to pay. they don't get the ben fitbit, and they have the same cost of raising their children. 80% of those left out were working parents who just didn't make enough money. that's why in the american rescue plan we didn't just expand the amount of the middle class tax cut, we also made it refundable. this framework will make it permanent refundable, making sure the families who need it get a full credit for it in addition to those who are already getting full credit. they are going to make sure that every 3 and 4-year-old child in america will go to high...

MSNBC Craig Melvin Reports October 28, 2021 15:52:00 - Vimarsana News

MSNBC Craig Melvin Reports October 28, 2021 15:52:00

For children under six. that is not all it does, it changes the whole dynamic for working parents. in the past, if you paid taxes and had a good income you could deduct under the tax code $2,000 per child. from the taxes that you owed, but how many families do you know who never got the benefit of the full tax credit because they didn't have that much to deduct. and it wasn't refundable. so it either came off of your tax bill, or you didn't get full credit. why should somebody making $500,000 a year, or $150,000, or $200,000 get to write it off of their taxes.

MSNBC Craig Melvin Reports October 28, 2021 15:53:00 - Vimarsana News

MSNBC Craig Melvin Reports October 28, 2021 15:53:00

They don't have that much tax to pay. they don't get the benefit and they have the same cost of raising their children. 80% of those left out are working parents that didn't make enough money. that is why in the american rescue plan they didn't just expand the amount of the middle class tax cut, we also made it refundable. this framework will make it permanently refundable. we want to make sure every 3-year-old and 4-year-old child in america goes to high quality preschool. that's part of the legislation for congress. studies show when we put three and four-year-olds in school, not daycare, we...

CNN At This Hour With Kate Bolduan October 28, 2021 15:52:00 - Vimarsana News

CNN At This Hour With Kate Bolduan October 28, 2021 15:52:00

Child under the age of 18. we're extending that for another year. the money is already a life-changer for so many working families. this will help cut child poverty in half this year according to the experts. that's not all it does. it changes the whole dynamic for working parents. in the past, if you paid taxes and had a good income, you could deduct under the tax code $2,000 per child from the taxes you owed, but how many families do you know, a cashier, waiter, health care workers, who never got the benefit of the full tax credit because they didn't have that much to deduct, and it wasn't r...