Child tax credit may plunge to $1,000 from $3,600 per kid after 2025

by admin

November 17, 2021

in Tax

Child tax credit may plunge to $1,000 from $3,600 per kid after 2025

The child tax credit is poised to get a significant haircut by mid-decade, even if Democrats pass the most recent version of their $1.75 trillion social and climate plan.

Starting in 2026, the value of the tax break for parents would plunge by more than two-thirds relative to current law, to $1,000 per child from a maximum $3,600, if Congress doesn’t intervene.

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