Opinion: Mitt Romney bucks his party. Republicans should follow his leadership.
The Bennet-Romney proposal expands the child tax credit in two key ways. First, it makes the existing credit more generous to families with children under age 6 by raising its maximum value to $2,500 .
Additionally, and perhaps more historically significant: The proposal would for the first time ever extend the child tax credit to the very poorest children by making the first chunk of the credit available to families regardless of income. That is, families with kids might have very low or even zero earnings and still get a significant check.
The technical term for this is that the first $1,500 of the credit for children under age 6 would be “fully refundable.” In practical terms, it means parents get money just for being parents, and they don’t have to do anything in exchange for the cash.Even more astonishing, given Romney’s support, is that this proposal would be paid for largely by closing a capital-gains tax loophole enjoyed by the very wealthy.
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