Finding areas of bipartisan consensus can be a tall order in Washington these days. Even when opportunities for agreement exist, partisan forces persistently drive us toward gridlock. While obstructionists from the extremes of both parties are able to capitalize on this dynamic and win attention for themselves, the American people continually lose out as common-sense policies fall through the cracks. The Child Tax Credit (CTC) offers a perfect example of this, as lawmakers continue to let a lasting deal slip through their fingers despite widespread support among voters.
The future of this pro-family and pro-growth policy is more urgent than many people realize. The CTC, in its current form, is set to expire in 2025, and if Congress doesn’t act fast, American parents will see the tax break they currently enjoy cut in half. The upcoming 2025 sunset of the policy means that the current credit of $2,000 will drop to the $1,000 annual benefit seen in 2001. And with inflation, this is a slap in the face to modern American families—families just 22 years ago were much better off, with $1,000 getting you almost twice as far as it does today.
With this deadline in mind, new polling from American Policy Ventures (APV), conducted by Cygnal, reveals that Americans across the political spectrum want to see action on this issue. The poll results show that two-thirds of likely general election voters support expansion of the CTC, with nearly half backing a bipartisan compromise to get it done.
With voters giving a green light to act, previously hesitant conservatives especially have a reason to seize the opportunity here. The CTC is a policy that directly supports and encourages family growth. Not only that, but it also puts taxpayer money back in the hands of taxpayers. This is the kind of economic stimulus that promotes work by empowering parents to afford services like childcare and return to their jobs. It also gives average Americans more financial freedom to build new small businesses and not only participate in the workforce but expand it.
What’s more, 2024 is fast approaching and the pressure is on for many conservative lawmakers to start showcasing concrete successes for the American family and the American taxpayer. If any Republican lawmaker up for reelection needs a case to win over conservative voters, saving a policy that epitomizes family values and enjoys widespread support among their constituents would be a great starting point. And this isn’t just a theory. A majority of Trump voters across the country have expressed that they want to see changes made to shore up the CTC.
Conservative lawmakers have a chance to deliver for these voters and steer the ship on the outcome of any deal. In fact, it wouldn’t be impossible to bring the other side to the negotiating table on this issue. Democrats have been looking to deliver a solution for their constituents since the end of the temporary CTC expansion under the American Rescue Plan Act. They have also been reticent to negotiate on the CTC. However, APV’s polling shows that a broad section of voters from both parties prefers to see a more moderated, work focused expansion in any immediate proposal. So even Democrats that may be worried about a compromise should find solace in the fact that voters understand the need to do so. And with the 2025 sunset, there is a pressing deadline to incentivize an honest negotiation process that weeds out unrealistic proposals from the fringes.
Although negotiations around the CTC have previously been bogged down by differences, that’s just par for the course in Washington. However, interest in cooperation on the CTC is already there; it just needs a push. If this policy is truly prioritized in Congress and a concerted effort is made to bridge partisan gaps, a solution is certainly within reach. Leaders on both sides of the aisle should not wait to forge ahead when the opportunity is right in front of them. We’re past due for action on the CTC, and the voters who will be at the polls in one short year are eager to see it done.
Paolo Mastrangelo is a Co-Founder & Co-President of American Policy Ventures, a new project which will actively work to support members of Congress working to find bipartisan solutions to our nation’s most pressing issues.
Read Full Article »