Change Child and Dependent Tax Credit

President Obama made the following promise:

"Obama will reform the Child and Dependent Care Tax Credit by making it refundable and allowing low-income families to receive up to a 50 percent credit for their child care expenses." — Obama's Blueprint for Change

Other promises regarding taxes.

UPDATES:

Updated: February 17, 2009

Child Tax Credit Expansion Makes It Into Final Package

The final version of the stimulus package retains the expansion of the child tax credit to families making at least $3,000.


Updated: January 28, 2009

House-Approved Stimulus Bill Expands Child Tax Credit

The stimulus package passed by the House removes the $8,500 income floor for the child tax credit, allowing some families that pay no income taxes to receive the credit.


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