Tag

Working Families

All articles tagged with #working families

taxation1 year ago•1 min saved

"Expanding Child Tax Credit: Impact on Rochester Families and 2024 Tax Season"

The House has passed a bill to increase the Child Tax Credit, potentially providing more financial relief to parents in Rochester. If the Senate approves the bill, the credit would increase to $1900 in 2024 and $2000 in 2025, offering support to working families struggling with the costs of childcare and other expenses. Local parents are hopeful for the bill's passage, recognizing the financial strain of raising children and the potential benefits of the increased credit.

via RochesterFirst|

#child-tax-credit #irs #rochester

politics2 years ago•3 min saved

"Congress Strikes Bipartisan Tax Deal to Expand Child Tax Credit and Support Main Street Businesses"

House Ways and Means Committee Chairman Jason Smith and Senate Finance Committee Chairman Ron Wyden have announced a bipartisan tax framework aimed at promoting the financial security of working families, boosting American competitiveness, and strengthening Main Street businesses. The plan, known as The Tax Relief for American Families and Workers Act of 2024, includes provisions to support working families, enhance innovation and competitiveness, build up Main Street businesses, rebuild communities struck by disasters, and eliminate fraud and waste by ending the Employee Retention Tax Credit program.

via Ways and Means Committee|

#american-competitiveness #bipartisan-agreement #main-street-businesses

politics2 years ago•2 min saved

"Political Leaders Spar Over Economic Predictions and Impact on Working Families"

House Speaker Nancy Pelosi criticized former President Donald Trump for expressing hope that the economy would crash within the next 12 months, stating that he doesn't understand the impact on America's working families. Trump's comments, made during an interview, were seen as self-serving and insensitive by Pelosi, who also praised President Biden's handling of the economy. Economists have largely expressed optimism about the economic outlook, despite Trump's remarks, and White House and Biden campaign aides condemned his comments as "vile."

via The Hill|

#donald-trump #economy #nancy-pelosi

politics2 years ago•1 min saved

Over 700,000 Michigan Households to Receive Tax Credit Checks in 2024

Over 700,000 Michigan households will receive checks averaging $550 in February 2024, as part of a tax credit to benefit working families. The checks will make up the 24% difference owed on their 2022 tax returns after the state's Earned Income Tax Credit was increased to 30% to match federal standards.

via MLive.com|

#earned-income-tax-credit #gretchen-whitmer #michigan

politics2 years ago•7 min saved

Biden's Bold Plans: Tackling Child Care and Lowering Drug Prices

The expiration of nearly $24 billion in federal aid for daycare centers and preschools on September 30 is causing concern for the child care system, which has been crucial in stabilizing the economy and getting people back to work. Advocates warn that the funding cliff could result in rising prices and limited options for working families, potentially leading to job losses and longer waiting lists for child care facilities. The Biden administration has not prioritized the child care program in year-end funding negotiations, frustrating advocates who have sought up to $16 billion in replacement funding. The lack of immediate funding support may hinder the post-pandemic recovery and impact Biden's economic record.

via POLITICO|

#biden-administration #child-care-funding #congress

politics2 years ago•2 min saved

Republican Border Bills and Texas' Response to Title 42 End.

Republican Representative John Duarte from California explained that he voted against the GOP's border bill to support working families and agriculture in his district. He also wanted to push for a bipartisan immigration compromise that can pass in the Senate. Duarte opposed the bill because it would hurt many families that work in his district and "create difficulties" for food producers. The legislation calls for completing former President Trump's wall on the southern border and implementing additional restrictions on access to asylum. The bill passed in the House with all but two Republicans in favor and all Democrats opposed.

via The Hill|

#border-bill #john-duarte #politics

politics2 years ago•0 min saved

Alabama Governor Proposes Tax Rebates and Education Investments

Alabama Governor Kay Ivey is proposing a one-time, $400 tax rebate for those who filed taxes in 2021. Lawmakers must approve the funds first, and if approved, it would take the state 60-90 days to cut the checks. The governor is asking lawmakers to authorize the funds to help working families who are grappling with inflationary costs. Those who don’t meet the income threshold to file taxes, and those who didn’t file in 2021, are not qualified.

via WBRC|

#alabama #inflation #kay-ivey