Southeast Missouri’s Congressman has introduced legislation that would make permanent the new and increased Child Tax Credit.
Congressman Jason Smith’s bill will make permanent the doubled Child Tax Credit of $2,000 per child, the $500 dependent credit, and increased refundability.
According to Smith, while the initial Tax Cuts and Jobs Act passed by the U.S. House of Representatives in 2017 made the enhanced Child Tax Credit permanent, Senate rules prevented permanency. Without any action from Congress, the Child Tax Credit will decrease from $2,000 to $1,000 in the coming years.