NPR, August 16, 2024, Harris Wants To Give Families A Big Tax Break For A New Baby
The child tax credit is both popular with voters and effective at cutting child poverty rates. But, expanding the program also would be expensive.
“It would be very costly. The current child tax credit costs something like $100 billion a year. This [proposal] would probably double that cost,” said Kevin Corinth, an economist with the American Enterprise Institute, who worked for the White House Council of Economic Advisers during the Trump era.
The Harris campaign so far has not put a price tag on its plans.
Felicia Wong, chief executive of Roosevelt Forward, a progressive advocacy group, said Harris’ proposals would require new spending. “The good news is that we certainly have that money in our country,” Wong said.
