June 12, 2003
HOUSE CHILD CREDIT BILL GIVES BIGGER TAX
BREAK TO MEMBERS OF CONGRESS
THAN TO LOW-INCOME WORKING FAMILIES
By
Robert Greenstein
PDF of this report |
If you cannot access the files through the links, right-click on the underlined text, click "Save Link As," download to your directory, and open the document in Adobe Acrobat Reader. |
The child tax credit bill on which the House of Representatives will vote today gives a much larger new tax break to Members of Congress — who already receive hefty tax cuts under the tax-cut bill signed two weeks ago — than to the low-income working families left out of the recently signed bill.
A married family with two children and income of $20,000 will receive a tax benefit of $475, or $237.50 per child. This is a little over one-quarter what the Member of Congress with two children and an income of $154,700 will receive under this legislation.