Bonamici Helps House Pass Tax Plan to Expand Child Tax Credit, Affordable Housing Construction

WASHINGTON, DC [1/31/24] – Today the House of Representatives passed a bipartisan package of tax legislation backed by Congresswoman Suzanne Bonamici (OR-01) that will lower costs for families with children and support affordable housing in Oregon and across the country.

The bipartisan Tax Relief for American Families and Workers Act, H.R. 7024, increases the benefits available through the Child Tax Credit and Low-Income Housing Tax Credit. As co-chair of the Pre-K and Child Care Caucus, Bonamici led a bipartisan call for improvements to the Child Tax Credit to be included in the tax package. Additionally Bonamici has long led efforts to improve the effectiveness of the Low-Income Housing Tax Credit (LIHTC) to incentivize the building of more affordable housing.

“The Child Tax Credit and Low-Income Housing Tax Credit both make a real difference in the lives of families and in our communities,” said Congresswoman Suzanne Bonamici. “When Democrats increased the Child Tax Credit during the pandemic, child poverty dropped dramatically. It’s unfortunate Republicans allowed those benefits to lapse, but I never stopped advocating for improvements. I’m grateful that this bipartisan package of tax legislation will expand the Child Tax Credit to help working families. I’ve also seen how the Low-Income Housing Tax Credit makes it possible to build affordable housing, which Oregonians desperately need. The provisions included in the package passed today will make meaningful progress toward easing the burden on household budgets, and I will continue to advocate for policies that help the people I represent and help grow the economy.”

The Child Tax Credit expansion is expected to benefit more than 160,000 Oregon children. More details can be found here.

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