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This bill introduced the expansion of the child tax credit 2024 plan by passing the Tax Relief for American Families and Workers Act of 2024.
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The US Child Tax Credit 2024 bill will provide relief to low-income families with multiple children.
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The US Child Tax Credit increases the current CTC to $2000 for children under 17 in 2024.
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$1600 of that could be returned as a possible refund.
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If this bill passes, the credit amount for refunds could go up to $1,800 for 2023 tax returns.
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It is also estimated that for the next year, it will increase to $1900 and $2000 for the 2025 tax return.
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According to this bill, the eligibility limit for CTC refund has been set at $2500 for a household. To fully qualify, eligible children must have a Social Security number valid for employment in the US.
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