President Joe Biden and Chinese communist leader Xi Jinping meet. Xi wants to strengthen communication with the U.S. But how did he refer to his relationship with Biden? And did the two leaders make any breakthroughs? Biden’s spending plan scraps a key requirement for the child tax credit. It could mean billions of dollars in…

Senators vote to raise the debt limit temporarily, and prevent the government from defaulting. What’s next? And are they just kicking the can down the road? Analysis shows President Joe Biden’s child tax credit will benefit blue state families more than red state families. That’s because it’s calculated based on different child care costs and…

The U.S. income tax system is “very progressive,” and it’s increasingly taking on the role of providing social benefits to households, according to the Tax Foundation. Lower household income and tax relief measures introduced during the pandemic allowed more Americans to pay no taxes in 2020. And President Joe Biden’s Build Back Better plan aims…

The U.S. income tax system is “very progressive,” and it’s increasingly taking on the role of providing social benefits to households, according to the Tax Foundation. Lower household income and tax relief measures introduced during the pandemic allowed more Americans to pay no taxes in 2020. And President Joe Biden’s Build Back Better plan aims…

President Joe Biden on Wednesday reiterated his position that the child tax credit should be extended, but this time signaling openness to the possibility that he might support an extension beyond the additional four years that his American Families Plan calls for. “Let’s extend the tax cut at least through 2025,” Biden said, speaking at…

President Joe Biden said Monday that families will begin receiving part of the expanded child tax credit via advance payments starting July 15, while reiterating his intent to push for the benefit to become permanent, saying next month’s payments are “just the first step.” Biden made the remarks in a statement on the day the…

While the White House is touting the advance payments of the enhanced child tax credit as a way to help families struggling to make ends meet in an economy that has yet to fully recover from the pandemic recession, some tax professionals are urging people to consider opting out and instead choose to receive a…

While the White House is touting the advance payments of the enhanced child tax credit as a way to help families struggling to make ends meet in an economy that has yet to fully recover from the pandemic recession, some tax professionals are urging people to consider opting out and instead choosing to receive a…

Commentary With widespread school closures due to the COVID-19 pandemic, the debate over school choice has once again taken center stage. For the past seven years, approximately two-thirds of Americans have consistently supported school choice. Additionally, support is largely bipartisan, with 82 percent of Republicans, 69 percent of Independents, and 55 percent of Democrats in favor…

The Biden administration on Monday announced it would start to distribute advance payments associated with the enhanced child tax credit starting on July 15, with millions of eligible Americans set to receive the money automatically or able to opt out and get it as a lump sum when they file a tax return in 2022….