July 18, 2024 10:10 pm
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Biden to push for return of expanded child tax credit in State of the Union speech

Top White House economic officials said Tuesday that President Joe Biden will announce how his administration is tackling economic issues — from the housing crisis to restoring the expansion of the child tax credit — during this week’s State of the Union address to Congress and the nation.

Child care costs far outpace wages, but dependent care tax credit stuck at 2001 rate

The U.S. House of Representatives voted overwhelmingly Wednesday evening to assist low-income families through an expansion of the child tax credit and the bill now awaits approval in the Senate. But some organizations are also highlighting a separate tax credit for child and dependent care, which they say is not providing adequate assistance to families and providers amid rising costs.