The election season is heated with more and more campaign proposals.
One of such is the Kamala Harris and JD Vance proposal for child tax credit (CTC) which offers assistance to low income families with children.
Kamala Harris during a policy speech in Raleigh, North Carolina stated that she will pay $6,000 in tax relief in the first year of a child’s life.
“We will provide $6,000 in tax relief to families during the first year of a child’s life,” Harris had said.
Harris is of the opinion that families with newborns will receive the child tax credit of $6,000 in the first year.
According to Harris, “That is a vital, vital year of critical development of a child”.
However, the Republican nominee and Trump’s running mate, JD Vance proposed $5,000 in tax benefit per child.
“I’d love to see a child tax credit that’s $5,000 per child”. Vance said while speaking on Sunday at Face Nation with Margerate Brennan.
Remember, the child tax credit income limit for families is currently set at $200,000 for single parents and $400,000 for a couple.
A more generous child tax credit can assist millions of children in America who are living in poverty to have a certain level of financial relief, giving low income families who sometime struggle to raise children less financial burden and that is probably what the Democratic presidential candidate, Harris is offering at the moment.
However, there are still a lot of concerns in the minds of Americans like repayment or refund options.
There are also doubs as to whether or not these new proposal is coming from a place of true concern.
According to a report by CBS News, Sen. Ron Wyden is quoted as saying “If JD Vance sincerely gave a whit about working families in America, he would have shown up in the Senate a week and a half ago and voted for my proposal to expand the child tax credit and help 16 million low income kids get ahead. He didn’t even care enough to use his platform to call on his Senate Republican colleagues to support it.”
Vance appeared to have not supported the expansion of a bill to put most low income American families at an advantage.
The bill failed due to Republican opposition according to CBS News.
This does not exactly add up to Vance recent proposal on expansion of child tax credit.
What are the differences between Kamala Harris and JD Vance’s proposal for the child tax credit
Kamala Harris is yet to speak on income limit for potential beneficiaries whereas JD Vance’s plan eliminates income restrictions, meaning that every family with their income will access these benefits.
Harris proposal suggest that families will get a tax credit of $6,000 for the first year after birth and in subsequent years, $3,600. Vance’s proposal, on the other hand, suggest $5,000.
Harris is yet to speak on the expected family income limit to receive these tax credits. However, Vance suggest a no income limit tax credit option.
