Response to Sen. Crapo’s Tax Bill Concerns
Sen. Mike Crapo, the ranking Republican on the Senate Finance Committee, has perfectly legitimate concerns regarding the Child Tax Credit (CTC) provisions contained in the bi-partisan Tax Relief for American Families and Workers Act. Sen. Crapo is worried the Child Tax Credit will “undermine the work requirement and represent a significant shift” into a government subsidy. This would normally be a perfectly legitimate concern. But in this case, it’s totally unfounded.
First, the child tax credit is now adjusted for inflation. An obviously fair change given the undeniable inflation every American sees with their own eyes every time they go to pay for anything, anywhere.
Secondly, the CTC in no way “undermines” the work requirement. In fact, it maintains the $2,500 minimum work requirement and cuts off monthly checks. A massive win by any metric. Sen. Crapo should be cheering the House Republicans for standing firm on conservative principles and securing work ethic in negotiation.
Finally, when looked at in the context of the COVID-era employee retention tax credit program enacted by Democrats in 2021, this new Child Tax Credit saves over $75 billion in taxpayer dollars. Another big win by House Republicans.
There will always be give and take when negotiating bills in divided government. However, you simply have to acknowledge the House Republicans for getting the better end of the deal. Not only did they secure “rocket fuel” for American businesses, but they stood strong on conservative principles of hard work and strong families.
The post Response to Sen. Crapo’s Tax Bill Concerns appeared first on FreedomWorks.
Source: https://www.freedomworks.org/response-crapo-tax-bill-concerns/
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