McClaughry: The $48 million child tax credit game

By John McClaughry

Last week we were treated to a self congratulatory news release from House Speaker Jill Krowinski and Ways and Means Chair Janet Ancel, announcing their latest venture to fight poverty: the child tax credit.

state of Vermont

House Speaker Jill Krowinski, D-Burlington

“It is critical we continue to work together to support all Vermonters as we recover from pandemic and focus on building resilient communities,” said Speaker Krowinski. “Today’s vote on a child tax credit for working families … is a key part of this plan. H.510 will provide needed relief for Vermonters to make payments on their mortgage or rent, buy food and basic essentials, pay for child care, and so much more.”

What they purposely neglect to tell us is exactly who will get the $48 millions of dollars they are handing out to fight poverty. I looked up the bill, H.510.

It provides that families with incomes up to $200,000 can pocket the full  $1,200 handout for any number of children under age 6. Families with incomes up to $210,000 will get reduced amounts.

Part time residents can stay in Vermont long enough to collect at least the first half of the credit. There’s no mention of the magnitude of the $48 million cash handout, half of which is paid up front.

Arguments can be made for reducing the tax burden on some families with children, but this joint statement gets an A for partisan self-congratulation, and an F for telling voters and taxpayers the whole truth.

John McClaughry is vice president of the Ethan Allen Institute. Reprinted with permission from the Ethan Allen Institute Blog.

Images courtesy of Public domain and state of Vermont

4 thoughts on “McClaughry: The $48 million child tax credit game

  1. I tried to unenroll from the ctc payments last year because im a self employed contractor that in years past has used them at the end of the year to offset my self employment and income tax, plus i think they are a dangerous step toward a universal basic income, used in tyrannical, socialist governments where the people lose all power and influence. In order for someone to unenroll, you must upload front and back pics of a valid photo id, military id or passport in addition to a short video for facial recognition to the irs website. So instead i cash the checks and save the $ for tax time or a real emergency. I thought photo id requirements were racist???

  2. Will that count as income when the state is deciding the property tax? If not, its a corrupt act taxing those without children for those that have them.

    • yup…..and it goes on and on…..up to 200k?? wow
      why not figure a way to help ALL low income working Vermonters?
      Property tax would be a good place to start
      trickle down……..from on-high……spend spend spend
      TERM LIMITS NOW FOR ALL “Politicians” This career politics = NOT public service

  3. Scott has to get out the VETO pen to end all these SOCIALISTIC shenanigans

    Vermonters have raised children for 250 years without that program

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