Thursday, April 25, 2024

Child Tax Credit Panel Discussion


May 11, 2021 6:15 PM Eastern Time

by Rep. Phil Young, (D, District 120)

State Representative Phil Young will host a panel discussion about the Child Tax Credit on Tuesday May 11, 2021 at 6:30 PM with State Representative Sean Scanlon, Merril Gay from the CT Early Childhood Alliance, and Liz Fraser from the CT Association for Human Services.

In the beginning of April House Democratic leaders announced a scaled-back, more affordable child tax credit, University of Connecticut economist Fred Carstensen noted that some of the changes would come largely at the expense of the poor. “This is tinged with both race and class,” said Carstensen, who heads the Connecticut Center for Economic Analysis. “This is saying lower-income people of color, and lower-income people who are white, don’t deserve the full benefit.”

The UConn economist was referring to the $600-per-child credit that Rep. Sean Scanlon, D-Guilford, proposed to ease a combined state-and-municipal tax system that leans heavily — according to at least one analysis — on low- and middle-income families.

Scanlon, who co-chairs the Finance, Revenue and Bonding Committee, originally envisioned making the credit available to households making as much as $682,000 per year. But after concerns were raised about the cost, he agreed to tighten things up. The credit would begin to phase out for couples earning more than $200,000 per year and would disappear entirely after $210,000.

But there also had been discussions about making the new child tax credit fully refundable. Credits normally are used only to reduce the amount of taxes owed. Once the tax liability reaches zero, in the usual scenario, the credit cannot be converted into a refund.

You can join the panel discussion from PC, Mac, Linux, iOS or Android.
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Meeting ID: 880 2157 3505


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