What would the new child tax credit offer if it passes?

The biggest shift in the expanded child tax credit would be for lower-income families

Family paper-cut figure model with money on the table
Changes in eligibility would apply to low-income families
(Image credit: Getty Images)

At the end of January, the House of Representatives passed a bill that would expand the federal Child Tax Credit. To get enacted, the bill still needs to pass the Senate, where it is "not guaranteed to win" approval, said The New York Times. But if it does secure Senate approval, the bill would "make the program more generous, primarily for low-income parents, as soon as this year," said The Washington Post.

However, while this new bill would represent an expansion of the existing child tax credit, it "isn't a return to the pandemic-era Child Tax Credit," when Congress "raised the benefit and made it fully refundable, even to those who didn't owe taxes," said The Wall Street Journal.

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