Scott Powers
The U.S. Senate has approved an amendment pushed by Florida’s U.S. Sen. Marco Rubio to provide a tax credit for child care in its budget resolution.
Rubio has made the child care tax credit amendment a hallmark of his efforts, vowing it would provide meaningful tax relief to middle income families.
The proposal essentially deducts $2,000 per child tax credits not just from income used to calculate income tax, but also from the income amounts calculated for social security and medicare, lowering the payroll tax deductions as well.
The amendment was cosponsored by U.S. Sen. Mike Lee, an Arizona Republican.
“Today’s passage of the Rubio-Lee child tax credit amendment is another step toward meaningful tax relief for working American families,” Rubio stated in a news release. “It has become increasingly expensive to raise children in the 21st century, and this bipartisan measure ensures that we are on track to invest in our families and future American taxpayers.
“Tax reform will not pass unless we significantly expand the child tax credit, and I’m glad to see that Congress took this important first step by showing unanimous support for the child tax credit in today’s budget resolution,” he added.
