What’s next for the revision of Republican taxes? Planning the differences between the bills of the House of Representatives and the Senate



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House
The Child Tax Credit, which currently grants parents $ 1,000 per child, would increase to $ 1,600 per child. But in part because credit is currently only available to parents who pay income taxes, more than 10 million children in low-income families would be excluded from the increase, according to the Center for Budget and Policy Priorities.

It is estimated that the change will cost $ 430 billion for 10 years.

The policy Both the House and the Senate change the Child Tax Credit to demand a Social Security number, which would prevent undocumented immigrants from receiving it.


Senate
The child tax credit would increase to $ 2,000 per child. But the millions of families that do not earn enough to pay income taxes, but still pay payroll taxes, will be largely excluded from the expanded benefits.

The change is expected to cost $ 580 billion for 10 years.

The policy Sens. Marco Rubio (R-Fla.) And Mike Lee (R-Utah) tried to insert a provision in the Senate bill that would have expanded this tax credit for millions of low-income families, and proposed paying it with a small increase in taxes corporate Your proposal failed.

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