Is Corporate America's Silence Hurting Child Tax Credit Expansion?

Corporate America's Role in Child Tax Credit Expansion

Corporate support for the child tax credit (CTC) expansion is essential for reducing child poverty while balancing tax burdens. Although the current proposal aims to aid the poorest families, the business community's backing is pivotal for its success.

The Impact of CTC on American Families

• Beneficial Results: The CTC has been effective in lowering child poverty rates, with the proposed extension poised to lift 500,000 children above the poverty line.
• Significant Benefits: Approximately 16 million low-income families with children stand to gain from the expansion.

While businesses emphasize the need for tax law changes to foster innovation and hiring, their support for the CTC expansion remains uncertain, potentially affecting millions of families in need.