Scoop: Manchin returns to Build Back Better negotiations with demands

[drray23]

4. lowering the income cap is something that can be negociated

Here is what it currently is at in the senate bill:

Enhanced child tax credit: The child tax credit which provides $300 a month for each child under age 6 and $250 a month for each one ages 6 through 17 — would be extended through 2022 for more than 35 million families. Heads of household earning up to $112,500 and joint filers making up to $150,000 annually would qualify for the enhanced payments. But, unlike in 2021, only these families would receive the funds in monthly installments next year. Eligible parents with higher incomes would have to claim the credit on their tax return the following year. The credit would be made permanently refundable so the lowest income families would continue to qualify. The enhancement, which was part of the $1.9 trillion coronavirus relief package Democrats enacted earlier this year, is currently only in place for 2021.This credit, along with the earned income tax credit, would cost about $203 billion, according to the CBO.

So, if your family income is less than $150,000 you get monthly $300.00 per child payments, if its above yo get a tax credit instead.


Source: https://www.ciada.org/2021/11/28/build-back-better-bbb-house-version-doa-in-senate/