Former President Donald Trump announced his intention to advocate for the protection and expansion of the child tax credit that was established during his presidency. The child tax credit, currently set at a maximum of $2,000 per child, is slated to decrease to $1,000 per child in 2026 unless action is taken. This adjustment was outlined in the Republicans' Tax Cuts and Jobs Act of 2017, a significant component of Trump's economic strategy that he aims to prolong.
There is ambiguity surrounding whether Trump's proposal involves raising the child tax credit beyond the existing $2,000 limit or maintaining it at the current level. Additionally, questions have been raised about Trump's stance on his running mate JD Vance's suggestion to elevate the child tax credit to $5,000.
Vice President Kamala Harris has emphasized the enhancement of the child tax credit as a key element of her economic agenda. Harris is advocating for the reinstatement of the enhanced credit introduced in the 2021 American Rescue Plan Act, which allowed for a credit of up to $3,600 per child for a single year. Furthermore, she is proposing the establishment of a $6,000 credit specifically for newborns.
