Warren is cosponsoring two bills that will expand these working family tax credits. The “Working Families Tax Relief Act of 2019” (S. 1138) will expand the EITC by 25% for families with children, makes the CTC fully refundable and adds a Young Child Tax Credit for children under 6. The bill will also substantially strengthen the EITC for childless workers. The “American Family Act of 2019” (S. 690) will significantly increase the Child Tax Credit, bringing maximum payments from $2,000 a year today to $3,000 for children between the ages of 6 and 16 and to $3,600 a year for children 5 and under.
Sources: S. 1138, CBPP, S. 690, Vox
Cost Over 10 Years: $99 Billion for EITC (1 year) and $105 Billion for CTC (1 year)