What the 2024 Election Results Mean for the Child Tax Credit [CNET News]
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Source: CNET News
now these proposals are getting a major new spotlight following the 2024 presidential election. Vice President Kamala Harris, the Democratic nominee, made the expansion of the credit, especially for families with newborns, a major part of her economic platform, but the future of it now lies in the hands of President-elect Donald Trump's forthcoming administration. Trump, as well as his running mate Sen. JD Vance, have floated similar hopes about expanding the credit, though these ideas have been less concrete, with a recent New York Times report shedding light on the disparity between their views and Harris's. Studies indicate that the 2021 temporary increase of the credit had a significant impact on childhood poverty. Columbia University's Center on Poverty and Social Policy found that the payments reduced the monthly rates of child poverty by nearly 30%, with payments reaching roughly 61 million children. Read on to find out what might become of the child tax credit in the nea
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