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June 02, 2003

Support Grassley Tax Cut

Didn't think I'd be rushing to support a tax bill, but Chuck Grassley, responding to critics who noted how the working poor don't qualify for the $1000 per child tax credit, is promoting a new bill to deal with the problem:

On Friday, Senator Charles E. Grassley, Republican of Iowa, the chairman of the Senate Finance Committee, said he would propose legislation next week to provide the increased child credit to those minimum-wage families, and to make the increase permanent for all taxpayers instead of its expiring in 2005. Such a measure, which would cost at least $61.5 billion over the next 10 years, would require 60 votes to pass in the Senate. Democrats have said they would support the cuts for the minimum-wage families, but the prospects for the full child credit extension are unclear.

Progressives should promote this whole bill, including the overall permanent tax cut. $10 billion per year is chicken feed after all the Bush tax giveaways and this one goes overwhelmingly to those with the most need.

And here's the political reason to support making them all permanent. What this means is that when the GOP wants to pass a bill making the rest of the tax bill permanent, they won't be able to waive the child tax credit as cover for the overall benefits for the wealthy.

So make the child tax credit permanent and it'll will help make sure the rest of the tax bill won't be.

Posted by Nathan at June 2, 2003 02:30 PM