Modify Business Provisions and Child Tax Credit and Earned Income Tax Credit (December 2022)

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2023, of making the child tax credit (CTC) fully refundable regardless of earned income or individual income tax liability.

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2023, of extending the expansion of the earned income tax credit (EITC) for workers without qualifying children enacted by the American Rescue Plan (ARP).

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2023, of: repealing amortization of research and experimental (R&E) expenditures; extend limitation of interest deductions to 30 percent of EBITDA; and make 100 percent bonus depreciation permanent. These tables were revised on December 7, 2022.

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2023, of: repealing amortization of research and experimental (R&E) expenditures; extend limitation of interest deductions to 30 percent of EBITDA; make 100 percent bonus depreciation permanent; make the child tax credit (CTC) fully refundable regardless of earned income or individual income tax liability; and extend expansion of earned income tax credit (EITC) for workers without qualifying children enacted by the American Rescue Plan (ARP). These tables were revised on December 7, 2022.

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2027, of making the child tax credit (CTC) fully refundable regardless of earned income or individual income tax liability.

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2027, of extending the expansion of the earned income tax credit (EITC) for workers without qualifying children enacted by the American Rescue Plan (ARP).

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2027, of: repealing amortization of research and experimental (R&E) expenditures; extend limitation of interest deductions to 30 percent of EBITDA; and make 100 percent bonus depreciation permanent. These tables were revised on December 7, 2022.

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2027, of: repealing amortization of research and experimental (R&E) expenditures; extend limitation of interest deductions to 30 percent of EBITDA; make 100 percent bonus depreciation permanent; make the child tax credit (CTC) fully refundable regardless of earned income or individual income tax liability; and extend expansion of earned income tax credit (EITC) for workers without qualifying children enacted by the American Rescue Plan (ARP). These tables were revised on December 7, 2022.