While the Bailout bill includes many bad tax cuts that will add to the deficit and it does not do for individual homeowners, there is one piece we can celebrate. As part of the bailout bill, Congress included an expansion of the child tax credit – one of the primary items we asked for in our Stand Up For Children event and letter to congress. Thank you to Louisa Warren who did such a terrific job presenting on this issue at our event! This new legislation adds families earning between $8,500 and $12,050 to those who are qualified to claim the child tax credit. The Center on Budget and Policy Priorities estimates 96,000 more North Carolina children should now qualify for the credit. Read more at http://www.cbpp.org/5-15-08tax.htm
Also today, President Bush signed into law the Healthy Start Reauthorization Act of 2007, which provides community-based grants to help our nation’s most disadvantaged children survive infancy and live longer, more productive lives. Below is a press release from First Focus about this.
Have a good weekend!
Sorien K. Schmidt
Action for Children NC