Saturday, September 27, 2014

Paul Cook's "Child Tax Credit" bill vote [HR4935] will cost add $100 billion to our national deficit while increasing taxes paid by 11 million lower income families so well heeled families earning over $150,000 net can have a bigger tax credit-Say What?

Bob Conaway (candidate for Congress -CA-08) joins the Administration [] in opposing H.R. 4935 (mislabeled as a Child Tax Credit bill).
First, HR 4935 would add nearly $100 billion to deficits over 10 years to expand the Child Tax Credit to benefit households with net incomes over $150,000, while slashing or eliminating benefits for lower income working families.  HR 4935 effectively eliminates the Child Tax Credit for 5 million families, while cutting it for 6 million more. A single parent with two children working full-time at minimum wage would lose her entire tax credit of $1,725.
Meanwhile, a couple with two children with income of $150,000 would receive a Child Tax Credit $2,200 larger than today. After 2017, H.R. 4935 would eliminate the Child Tax Credit for millions of American children whose parents immigrated to this country, including U.S. citizen children and“Dreamers,” and would push many of these children into or deeper into poverty.
Second, while Bob Conaway and the Administration strongly support tax relief for working and middle-class families, H.R.
4935, by eliminating the tax credit for working families with children, is in effect raising taxes for those millions of struggling working families, a struggle Cook does not care about.
Solution:  If Paul Cook wants to show he and his buds are serious about helping working families through the Child Tax Credit, they should start by extending the current provisions past 2017.
Using popular programs to bury tax increases to the lower income working families will become law if the Republicans retain the House and win the Senate. Voting on November 4, 2014 will add your views to the public policy dialogue.

Bob Conaway for Congress (CA-08)
12127 Mall Blvd, Suite A-363
Victorville CA 92392
Contact No. (760) 617-8305
Contributions or gifts to Bob Conaway for Congress are not tax deductible.
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