skip to main content
skip to newscasts

Saturday, March 2, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

As Congress and presidential candidates trade accusations over immigration reform, advocates and experts urge caution in spreading misinformation; Alabama takes new action IVF policy following controversial court decision; and central states urge caution with wildfires brewing.

view newscast page
play newscast audioPlay

Congress reaches a deal to avoid a partial government shutdown again. Arizona Republicans want to ensure Trump remains on their state ballot and Senate Democrats reintroduce the John Lewis Voting Rights Act.

view newscast page
play newscast audioPlay

Hard times could be ahead for rural school districts that spent federal pandemic money on teacher salaries, a former Oregon lumber community drafts a climate-action plan and West Virginians may soon buy raw milk from squeaky-clean cows.

Congress urged to consider business tax cuts, child tax credit

play audio
Play

Monday, November 27, 2023   

Lawmakers in Congress are facing mounting pressure from corporate lobbyists to pass business tax breaks before the end of the year but new analysis suggests cuts would be far more costly than promised.

Joe Hughes, federal policy analyst at the Institute on Taxation and Economic Policy, said reinstating the expanded Child Tax Credit would be a better investment. He pointed out it is unclear whether corporate tax breaks would achieve their stated policy goals, but they would make a lot of very rich people even richer.

"The child tax credit, on the other hand, the beneficiaries and the effects are entirely clear," Hughes asserted. "It's children in low- to middle-income families, middle-class families, people making less than about $86,000 a year."

Reinstating the pandemic-era Child Tax Credit would help nearly 60 million children in Wyoming and across the U.S. Proponents of corporate tax breaks passed in 2017 argue they are essential to economic growth and should be made permanent. Critics of the expanded child tax credit, which expired last year doubling child poverty rates, warned it would discourage people from re-entering the workforce.

Researchers at the University of Chicago and the Massachusetts Institute of Technology found the expanded Child Tax Credit did not affect parents' decisions to enter or leave the workforce. Hughes noted working is not free if you have children. For many parents, it is less expensive to stay home than pay rising child care costs.

"An expanded child tax credit that's available to all low-income families can actually help some families re-enter the workforce," Hughes emphasized. "Because now they can receive child care."

Making corporate tax breaks permanent is projected to cost $500 billion but Hughes stressed making the Child Tax Credit fully refundable, where families get assistance even if they don't earn enough to owe taxes, would have a much lower price tag of between $10 billion and $20 billion.

"The most impactful part of the legislation was what made it available to all families, including very low-income families," Hughes added. "In 2021, as a result of the child tax credit, child poverty was cut in half."


get more stories like this via email

more stories
House Bill passed with an overwhelming vote of 94-6, with three abstentions. Its companion, Senate Bill 159, passed unanimously with a vote of 34-0. (Chad Robertson/Adobe Stock)

Health and Wellness

play sound

The Alabama House and Senate both passed bills this week that would help people resume in vitro fertilization and provide legal protections for provid…


Environment

play sound

It's early in the season for wildfires in Nebraska, but dozens of firefighters have already been battling a large wildfire near North Platte for …

Social Issues

play sound

A new report finds some Missouri laws and prospective laws are perceived as discriminatory regardless of their actual intent - and it outlines some bi…


Many transmission projects already follow highway corridors, but depending on the state, policy experts say laws can make it harder to add new power lines along federal interstates. (Adobe Stock)

Environment

play sound

By Frank Jossi for Energy News Network.Broadcast version by Mike Moen for Minnesota News Connection reporting for the Joyce Foundation-Public News Ser…

Environment

play sound

By Claire Carlson, John Upton and Kaitlyn Trudeau for The Daily Yonder.Broadcast version by Mark Richardson for Oregon News Service for the Public …

From book bans to teacher qualifications, a new national report from the Network of Public Education examines the laws and policies that support or undermine each state's public schools and the students who attend them. (Pixabay)

Social Issues

play sound

A new Network for Public Education report grades Florida an "F" for its public school funding. As Florida lawmakers negotiate the state budget in …

Social Issues

play sound

As members of Congress and presidential candidates battle it out over immigration, a group of Nevada leaders and experts dedicated to advancing …

Social Issues

play sound

A bill in Olympia would open access to unemployment while workers are on strike, but time is running out for lawmakers to pass the legislation…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021