Back to Options to Enhance the Child Tax Credit (February 2021)
Model Estimate T21-0024 – Increase Child Tax Credit (CTC) Amount to $3,000 ($3,600 for Under 6), Extend CTC to Eligible 17 Year-Olds, and Make CTC Fully Refundable; Phase Down Increase in CTC Amount Starting at $75,000/$150,000 by Expanded Cash Income Level, 2021 t21-0024.xls
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Table shows the distributional impact, by expanded cash income level, of: increasing the CTC amount to $3,000 ($3,600 for children under 6), expanding eligibility to 17 year olds; and making the credit fully refundable regardless of income. This option phases down the increased credit starting at income of $150,000 for married couples ($75,000 for others).
Model Estimates Type Distribution Tables by Income Level
Primary topic Campaigns, Proposals, and Reforms
Topics Current legislative proposals Child tax credit (CTC)/Child and dependent care tax credit (CDCTC) Income tax (individual) Tax credits (individual)
Model Estimates from the same Simulation Run February 2, 2021
Model Estimate
T21-0025 – Increase Child Tax Credit (CTC) Amount to $3,000 ($3,600 for Under 6), Extend CTC to Eligible 17 Year-Olds, and Make CTC Fully Refundable; Phase Down Increase in CTC Amount Starting at $75,000/$150,000 by Expanded Cash Income Percentile, 2021
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