T23-0086 – Options to Modify Refundability of the Child Tax Credit (CTC); Baseline: Current Law; Impact on Tax Revenue (billions of current dollars), 2023-32 Calendar Years

Model Estimate

t23-0086.xlsx

(18.53125 KB)

November 28, 2023

Table shows the revenue effects of various changes to the Child Tax Credit, calendar years 2023–2032.

Model Estimates Type

Revenue Tables

Primary topic

Campaigns, Proposals, and Reforms

Topics

Current legislative proposals

Child tax credit (CTC)/Child and dependent care tax credit (CDCTC)

Low-income households

Tax credits (individual)

Model Estimates from the same Simulation Run November 28, 2023

Model Estimate

T23-0103 – Increase the maximum CTC to $3,000; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023

Model Estimate

T23-0102 – Phase the CTC in from $0 to $10,000 of Earnings; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023

Model Estimate

T23-0101 – Phase the CTC in from $0 to $10,000 of Earnings; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023

Model Estimate

T23-0100 – $1,000 Per Child Minimum Refundable Credit; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023

Model Estimate

T23-0099 – $1,000 Per Child Minimum Refundable Credit; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023

Model Estimate

T23-0098 – Repeal the CTC Earned Income Threshold, Repeal the Refundability Limit Enacted by the 2017 Tax Act, and Increase the Refundability Rate from 15 Percent per Tax Unit to 15 Percent per Child; Baseline: Current Law; Distribution of Federal Tax Cha

Model Estimate

T23-0097 – Repeal the CTC Earned Income Threshold, Repeal the Refundability Limit Enacted by the 2017 Tax Act, and Increase the Refundability Rate from 15 Percent per Tax Unit to 15 Percent per Child; Baseline: Current Law; Distribution of Federal Tax Cha

Model Estimate

T23-0096 – Increase CTC Refundability Rate from 15% Per Tax Unit to 15% Per Child; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023

Model Estimate

T23-0095 – Increase CTC Refundability Rate from 15% Per Tax Unit to 15% Per Child; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023

Model Estimate

T23-0094 – Repeal CTC Refundability Limit Enacted by the 2017 Tax Act; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023

Model Estimate

T23-0093 – Repeal CTC Refundability Limit Enacted by the 2017 Tax Act; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023

Model Estimate

T23-0092 – Repeal CTC Earned Income Threshold; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023

Model Estimate

T23-0091 – Repeal CTC Earned Income Threshold; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023

Model Estimate

T23-0090 – Make the CTC Fully Refundable for Children Under 6; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023

Model Estimate

T23-0089 – Make the CTC Fully Refundable for Children Under 6 Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023

Model Estimate

T23-0088 – Make the CTC Fully Refundable; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023

Model Estimate

T23-0087 – Make the CTC Fully Refundable; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023

Model Estimate

T23-0104 – Increase the maximum CTC to $3,000; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023