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Kiplinger
Kiplinger
Business
Katelyn Washington

What's Happening With the New Child Tax Credit?

Ron Wyden ERC
US Capitol building .

At the beginning of 2024, the U.S. House of Representatives passed $78 billion tax legislation that includes a newly expanded federal child tax credit (CTC) and various tax breaks for businesses.

Since then, the bipartisan tax package has been stalled in the U.S. Senate. Recently, hope that the new child tax credit will become law dwindled again, after the bill failed to advance in the Senate.

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