As details of the final Republican tax plan started to be released last week, many Americans were excited about finally being able to keep more of their income. However, as the bill is being debated in the Senate, concerns have been raised by the two conservative Senators who took the lead on reforming the child tax credit.
While the Senate passed the increased child tax credit of $2,000, the final bill was threatening to be only partly refundable for working families. Senators Mike Lee and Marco Rubio had made it their mission to amend the Senate bill to make the child tax credit refundable against payroll taxes, but “the pair were rebuffed,” according to the Washington Examiner.
Now, as of Friday, Reuters is reporting that the CTC, which Republicans earlier said would only be refundable up to $1,100, will now be refundable up to $1,400. The raise comes after Rubio hammered Republicans who had figured out a way to pay for benefits for the wealthy and corporations, but not for middle-class families with children.
“Unless they figure out a way to increase the refundable part, higher than $1,100, the way they figured out a way to give corporations an extra year of cuts, the way they figured out a way to lower the top rate for a family making a million dollars a year… Unless they figure out a way to add to the $1,100 figure, I won’t support the bill,” Rubio said.
He added, “If you make $40,000, we can’t find the money to increase the child tax credit? But if you make a million a year, we can?” Reuters had reported that Lee is also an undecided voter at this point due to the change but it is unclear where he stands after the $1,400 offer.