Tax Model Analysis Options to Modify The Refundability of the Child Tax Credit (November 2023)

Description

Tables show distribution of federal tax changes and revenue changes for options to modify the Child Tax Credit. Tables show distribution effects in calendar year 2023 and revenue effects in calendar year 2023-2032.

Simulation Run November 28, 2023
  • 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
  • T23-0087 – Make the CTC Fully Refundable; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023
  • T23-0088 – Make the CTC Fully Refundable; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023
  • 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
  • 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
  • T23-0091 – Repeal CTC Earned Income Threshold; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023
  • T23-0092 – Repeal CTC Earned Income Threshold; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • T23-0099 – $1,000 Per Child Minimum Refundable Credit; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023
  • T23-0100 – $1,000 Per Child Minimum Refundable Credit; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023
  • 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
  • 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
  • T23-0103 – Increase the maximum CTC to $3,000; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2023
  • T23-0104 – Increase the maximum CTC to $3,000; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023