Jan. 26, Colorado’s Michael Bennet and four Democratic colleagues from the U.S. Senate urged the Biden Administration to secure an extension of the expanded Child Tax Credit (CTC) as a centerpiece of the Build Back Better package.
Bennet, along with Senators Sherrod Brown (Ohio), Cory Booker (N.J.), Rev. Raphael Warnock (Ga.), and Ron Wyden (Ore.) called the expanded CTC an “overwhelming success” in Wednesday’s request to President Biden and Vice President Kamala Harris, representing a “signature domestic policy achievement.”
U.S. Senator Michael Bennet
“The Biden Administration’s expanded CTC represents the biggest tax cut for low- and middle-income families in modern American history — standing in sharp contrast to the $8 trillion in tax cuts Congress has enacted since 2001, the benefits of which have largely gone to the wealthy,” the group wrote.
“The consequences of failing to extend the CTC expansion are dire, particularly as families face another wave of the COVID-19 pandemic,” they continued. “After historic progress, it is unacceptable to return to a status quo in which children are America’s poorest residents and child poverty costs our nation more than $1 trillion per year. Raising taxes on working families is the last thing we should do during a pandemic.”
The American Rescue Plan expanded the Child Tax Credit based on Bennet, Brown, and Booker’s American Family Act. Over the last six months, millions of families have received monthly installments of the CTC, including 27 million children who were previously excluded from the full tax credit.
The House-passed Build Back Better Act included a one-year extension of the expanded CTC and permanent full refundability for the credit. In March 2021, Bennet, Brown, Booker, Warnock, and Wyden led 41 Senate Democrats in pushing to make the expansion of the CTC permanent.
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