Summary
The Family First Act seeks to amend the Internal Tax Code to expand the Child Tax Credit and establishes a tax credit specifically for pregnant mothers. It notably includes a permanent expansion of Child Tax Credit (CTC) and changes how deductions and credit are administered by amending the Internal Revenue Code of 1986 Section 24. In doing so, the Family First Act makes changes to credit amount and refund percentages for qualifying parties as well.
Goal
- Increase and expand support for mothers and children in need.
Analysis
Many struggle with raising a family due to financial constraints. By expanding credit amounts, eligibility, and improving the refund policy, the Family First Act will provide mothers and families with the financial support they need to ensure the health and well-being of their children.