We are subsidizing 88 percent of U.S. children. I missed this before, but am now writing my congressional representatives. If you agree that this is absurd, please do the same. With the country so deep in debt, why are we subsidizing families so far above the poverty level? There is also no cap on the number of children who qualify for the credit. Most American families qualify for some amount of money through the child tax credit.
The full credit is available to married couples with children filing jointly with adjusted gross income less than $150,000, or $75,000 for individuals. The enhanced tax credit will phase out for taxpayers who make more money and cease for individuals earning $95,000 and married couples earning $170,000 filing jointly.
Taxpayers who make more than that will still be eligible for the regular child tax credit, which is $2,000 per child under age 18 for families making less than $200,000 annually, or $400,000 for married couples.
