Letting Families Keep More in the Obama Economy
Washington, D.C. – Majority Whip Kevin McCarthy released the following statement on passage of H.R. 4935, the Child Tax Credit Improvement Act:
“Year after year, prices for basic necessities are rising while wages have stagnated. Too many people are still jobless or working part-time jobs, earning much less than before the great recession. The ‘recovery’ has been unnoticeable.
“These problems strike families particularly hard. According to the USDA, the annual cost of clothing, feeding, and educating children has by thousands of dollars in the last decade. Meanwhile, the child tax credit has remained exactly the same at $1,000.
“That’s why the House today passed the Child Tax Credit Improvement Act, which indexes the child tax credit to inflation and cuts down on fraud, saving money for both families and taxpayers.
“I would like to thank Representative Lynn Jenkins (KS-2) for sponsoring this bill to ensure that families keep more of their hard-earned money to raise the next generation of America’s leaders.”