A Democratic president-elect and rising economic pressure on the working class are buoying hopes that family-focused tax credits could be expanded by the next Congress, no matter who ends up in control of the Senate.
President-Elect Joe Biden’s campaign tax plan included proposals to temporarily expand the Child Tax Credit, boost the Child and Dependent Care Tax Credit as a way to help cover child care costs, and allow people 65 and older to receive the Earned Income Tax Credit.
House Ways and Means Chairman Richard Neal (D-Mass.) is promising to press forward on all three credits ...
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