A livestream of the press conference is available HERE.
Washington, DC – Today, U.S. Senators Michael Bennet (D-Colo.), Cory Booker (D-N.J.), Sherrod Brown (D-Ohio), and Representatives Rosa DeLauro (D-Conn.), Suzan DelBene (D-Wash.), and Ritchie Torres (D-N.Y.) — a group often referred to as the ‘CTC Six’ — joined families and advocates from the Economic Security Project Action, Community Change Action, and MomsRising to urge Congress to restore the expanded, enhanced Child Tax Credit (CTC) with the research and development (R&D) tax credit in a bipartisan tax package during the lame duck session. The R&D tax credit is set to expire at the end of the year.
“The expanded Child Tax Credit did exactly what we said it would – it cut childhood poverty nearly in half, reduced hunger by a quarter, and helped families with children afford rent, groceries, and basic necessities. We should have never let it expire and should not cut taxes for corporations without cutting them for families,” said Bennet. “We’re calling on Congress to reinstate this lifeline before the end of the year. Expanding the Child Tax Credit is a critical step to building an economy that works for everyone, not just those at the top.”
Bennet continues to urge his colleagues to make the expanded Child Tax Credit permanent. In November 2022, the Senate Joint Economic Committee released a report highlighting that the expanded CTC in the American Rescue Plan Act (APRA) — based on Bennet’s American Families Act — lifted 5.3 million people, including 2.9 million children, out of poverty last year. In September 2022, Bennet and the CTC Six called on Congress to not pass tax breaks for corporations without passing an expanded CTC. As Coloradans continue to face high costs, Bennet is fighting to extend this benefit and ultimately make this expansion permanent.