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January 31, 2024

Statement: Rep. Schiff Announces Support for Bipartisan Compromise to Raise Child Tax Credit and Low-Income Housing Tax Credit to Help Working Families

Washington, D.C.— Today, Representative Adam Schiff (D-Calif.) voted in support of the Tax Relief for American Families and Workers Act, a bipartisan compromise that will raise the Child Tax Credit (CTC) and Low -Income Housing Tax Credit:

“Tonight, I voted for the bipartisan package to increase the Child Tax Credit, expand the Low-Income Housing Tax Credit and provide relief to California families who have suffered losses from wildfires and floods. 

“I have long pushed Congress to expand the Child Tax Credit and make it permanent. During the pandemic, the Child Tax Credit brought almost 4 million children out of poverty, and cut child poverty in half – in half. I would like to see more children lifted  out of poverty, and there is certainly more that we can and should do, but any expansion of the CTC is something we should all welcome. Additionally, I am encouraged by provisions in the bill aimed at increasing the national housing supply, which will help tackle the housing affordability crisis in California – and this is a good first step. I have been championing an increase in the Low Income Housing Tax Credit and I am very glad that it was included in the package. 

“This bill is not without flaws. It would extend certain Trump-era tax cuts for big businesses, and give substantial tax cuts to corporations which are currently earning record profits, while ordinary Americans struggle with rising living costs, undermining the idea of basic economic fairness. It is telling that for Republicans in Congress, the price of helping poor children was a tax break for corporations. Corporations need to pay their fair share and we should be repealing the Trump tax cuts, not extending them. 

“No compromise bill is perfect, but in a divided government, compromise is the only path towards helping working families. And despite the bill’s shortcomings, my vote is one to help working families who are struggling to get by in California.”