Expanded Child Credit Would Cost $1.3T Over Decade, Says Joint Tax (1)

Making the expanded child tax credit permanent would reduce government revenue by up to $1.4 trillion over the next decade, according to a new Joint Committee on Taxation report released by House Republican leaders Wednesday.

The report, dated Oct. 19, was released by Ways and Means Committee ranking member Kevin Brady (R-Texas) and Budget Committee ranking member Jason Smith (R-Mo.). The committee’s conventional estimate pegged the revenue loss at $1.25 trillion, and $1.37 trillion after accounting for macroeconomic effects.

“We know that if made permanent, Democrats’ partisan Child Tax Credit would result in between 300,000 to 1.5 million Americans exiting ...