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1 1 (December 14, 2021)

handle is hein.crs/goveezo0001 and id is 1 raw text is: Congressional SResearch Service The Child Tax Credit in the Senate Finance Committee Text of the Build Back Better Act: Summary Table December 14, 2021 On December 11, 2021, the Senate Finance Committee released updated text of the committee's provisions in the Build Back Better Act (BBBA; H.R. 5376). This updated text of the BBBA would extend the 2021 expansion of the child credit for one year-2022-and would permanently make the credit fully refundable beginning in 2023. As a result of these changes, many taxpayers in 2022 would continue to receive a monthly benefit of up to $300 per young child (0-5 years old) and up to $250 per older child (6-17 years old). With respect to the child tax credit provisions, the updated Finance Committee text is virtually identical to the House-passed BBBA (see table note a at the end of Table 1 for more information). Major changes to the child tax credit made by the Finance Committee's updated BBBA text are summarized below in Table 1. Table 1 is not a comprehensive accounting of every change included in the updated Finance Committee text, nor does it include specific details for every proposed change. The figures following the table illustrate the annual credit amount by income for different years. Congressional Research Service https://crsreports.congress.gov IN11827 CRS INSIGHT Prepared for Members and Committees of Congress -

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