Lobbyists are lining up to push Congress to approve more corporate tax breaks before Jan. 1, including extending deductions for research and development. Supporters argue that U.S. businesses need such incentives to keep the nation competitive in the world economy.
But nothing boosts the nation’s ability to compete as much as a direct investment in the health and security of its children. As members of Congress negotiate a year-end budget package, they should not approve more incentives for big business, without also extending an expanded Child Tax Credit.
Pennsylvania’s Congressional delegation — including U.S. Sens. Pat Toomey, a Republican, and Bob Casey Jr., a Democrat; as well as U.S. Rep. Mike Doyle, an Allegheny County Democrat — ought to make sure an extension of the expanded Child Tax Credit becomes part of any bipartisan year-end budget package. Ideally, Congress should make the expanded CTC permanent. At minimum, Congress should extend it for two years, and make it retroactive for this year.
