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Connecticut Lawmakers Urged To Make $250 Per Child Tax Credit Permanent

Child Tax Credit Program
Child Tax Credit Program

The state of Connecticut’s lawmakers are urged to make the $250 per child tax credit permanent. The advocates of this program believe that it is a need to extend the Child Tax Credit to help families bear the rising costs of living, says Fuller.

Child Tax Credit Program

Child Tax Credit Program

The state of Connecticut’s child tax credit program has already allocated assistance to approximately 240,000 households. State Representative Sean Scanlon established the initial tax credit program. It was originally dismissed but was subsequently given approval for a reduced amount. In June, it was signed by Connecticut Governor Ned Lamont into law. It became a part of the budget for 2022-2023, offering $250 worth of tax credits for every child. At maximum, a family can be given up to $750. A $125 million budget was allocated for the program and it has already spent $84.5 million to distribute food to 353,000 households with children.

Reports say some of the approved applicants were found to have overdue taxes that were deducted from the tax credit. Thousands of applications for the program are also still waiting for approval. In order to be approved, applicants may also need to provide more information. For families who are able to do so, there is a budget of around $35 million as per Scanlon’s announcement to the members of the General Assembly’s Finance Committee.

Who is qualified for this tax credit?

According to Fuller, to be qualified for the child tax credit program, families must have a single filer earning an income of less than $100,000. If a married couple is filing separately, they must earn an income of less than $100,000. On the other hand, the head of the household must earn an income of less than $160,000. A married couple filing jointly must earn a maximum income of $200,000. A family becomes eligible for the child tax credit if any of these requirements are met. In case filers earn an income above the requirements, the tax credit will be decreased by 10% per thousand dollars beyond the limit.

 

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