WASHINGTON DC – Illinois Congressman U.S. Randy Hultgren (R-14) today supported passage of the Child Tax Credit Improvement Act of 2014 (H.R. 4935) a bill which raises the phase-out threshold for the $1,000 child tax credit for joint filers and ties the child tax credit to inflation.
“According to the Department of Agriculture, the cost of raising the typical child is $13,600 per year through age 17, and it keeps rising by more than 4 percent each year. Our current child tax law fails to take these rising costs into account, and it penalizes married parents,” said Hultgren. “Through this legislation, let’s continue to strengthen the middle class and support the institution best suited to encourage a stable society and economic security for individuals: the family.”