By Katy O’Donnell, politico.com
Democratic presidential nominee Hillary Clinton will propose doubling the Child Tax Credit to $2,000 per child, up to and including 4-year-olds, the campaign announced this morning.
Clinton would also expand the credit by lowering the threshold for claiming a refund from $3,000 in earnings to “the first dollar of earnings for families with children of all ages,” according to a statement from the campaign.
The campaign said as many as 15 million children would qualify for the credit of up to $2,000.
“Hard-working, middle-class families are struggling with rising costs for child care, health care, caregiving and college,” Clinton said in the statement. “This new tax credit will make their lives a little bit easier and help restore fairness to our economy.”
Clinton would offset the cost of the expanded credit with higher taxes on “the wealthy, Wall Street, and big corporations,” the campaign said.
The proposal comes after Clinton and GOP nominee Donald Trump sparred over taxes during their Sunday night debate.
“Hillary Clinton is raising your taxes, folks. You can look at me. She’s raising your taxes really high,” Trump warned at one point, after pledging to cut taxes “big league for the middle class.”
Clinton shot back that Trump’s proposed “tax cuts would end up raising taxes on middle-class families.”
She added, “I have said nobody who makes less than $250,000 a year — and that’s the vast majority of Americans as you know — will have their taxes raised.”