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Petro’s Backfiring Policies Imperil Two Decades of Colombian Progress U.S. Senator Marco Rubio (R-FL) May 14, 2024 Medium [As Colombian President Gustavo Petro] reneges on his campaign promises and prepares to rewrite the Colombian constitution in his favor, his...
Washington, D.C. — U.S. Senators Marco Rubio (R-FL) and Senator Mike Lee (R-UT) released the following statements after the Sutherland Institute revealed a new analysis showing the Rubio-Lee child tax credit expansion would significantly benefit lower-to-middle income and rural Americans. Part of the Rubio-Lee Economic Growth and Family Fairness Tax Plan, this proposal is part of ongoing tax reform efforts and backed by key Trump Administration officials.
“Tax reform should be grounded in the daily realities of family life: household budgets, food on the table, and equipment for kids’ sports teams,” said Rubio. “As the Sutherland Institute’s research shows, expanding the child tax credit would provide meaningful tax relief to working families across America.”
“Providing relief for working families – especially relief from the parent tax penalty – is essential for 21st century reform,” said Lee. “The Sutherland Institute’s detailed new analysis shows that an expanded child tax credit is one surefire way we can help them.”
Under the Rubio-Lee approach, families with children would be able to claim a $2,500 tax credit in addition to the current $1,000 child tax credit. The expanded child tax credit would be refundable up to each taxpayer’s combined federal income and payroll tax liability, and would be counted only after all other tax credits are factored in.