A bipartisan group of lawmakers has introduced a bill that aims to provide financial relief to parents by expanding child tax credits. The proposed legislation, known as the Affordable Childcare Act, is spearheaded by representatives from both sides of the political spectrum.
The current child tax credit system offers parents a refund of up to $2,000 for each dependent under the age of 17. However, the new bill seeks to significantly increase this amount, with provisions that could potentially give parents up to $6,000 per child or $12,000 for two or more dependents.
