House Republicans have cemented their position as cronies of the wealthy with yet another new bill. They’re working on expanding the Child Tax Credit to wealthier families, despite the fact that wealthier families can generally afford the children they’ve got.
In fact, the House Ways and Means Committee has passed a bill doing just that, according to MSNBC. To be sure, it does expand some existing credits and tax breaks for the poorer families, but MSNBC reports that it lets others disappear — which would hurt them more than these expansion will help them.
The bill specifically raises the maximum income limit for the Child Tax Credit from $110,000 per year to $150,000 per year. They say that this is a way to eliminate the marriage tax penalty. Families with two children, who earn up to $205,000, would also be eligible for the tax credit. It indexes the credit to inflation, so that more families can keep more of the money they work so hard for.
MSNBC reports that the way this hurts poor families is that it doesn’t extend an expansion of the Child Tax Credit that was enacted in 2009. In fact, according to the Center on Budget and Policy Priorities, a family making $150,000 per year would get an additional tax break of $2,200. Meanwhile, a single working mother earning only $14,500 per year (or the current federal minimum wage) would actually lose $1,725 per year.
In other words, the bill gives slightly more than a poor family will lose to a better-off family that doesn’t need it. Talk about redistribution of wealth.
Republicans, obviously, don’t care. A family earning six figures per year may have a little more trouble financially now than they did 15 years ago. But a family earning the federal minimum wage has a whole lot more trouble affording pretty much everything, including their children, even with assistance.
To put forth a bill that hurts those people, while rewarding upper middle class and wealthy families, is beyond ridiculous. Not to mention the harm it will cause to the GOP’s fight against the budget deficit.
Chuck Marr, who wrote the report on this particular bill for the CBPP’s website, also says that a better way to do this would have been to extend the parts of the Child Tax Credit and the Earned Income Tax Credit that help the poor, rather than expand it to include wealthier families and let the most beneficial parts of it lapse for the poor.
He said that the low-income part of the Child Tax Credit—along with the Earned Income Tax Credit—is a pro-work success story. They both help to increase work among low-income parents, and they help to increase performance among students of poor families.
For all their blustering about getting people back to work, they still stick to their ideas that the poor are poor by choice, and therefore don’t deserve any help at all. The wealthy, on the other hand, got that way because of their incredible work ethic, so they deserve all the help they can get, even if they don’t need it.
If there was anything out there that would prove, beyond doubt, that the GOP only cares about the upper middle class and the rich, this is it.
More from AATTP about Republicans attacking poor American families:
- The GOP Just Cut Taxes for Millionaires While Hiking Them for the Poorest Families in North Carolina
- Tea Partier Who Compared Poor People to Animals Didn’t Pay Staff Enough to Feed Families (Video)
- Fox ‘News’ Attacks School Lunches: ‘Free Meals Hurt Poor Families!’ (Video)