Millions of kids could lose the Child Tax Credit under GOP budget bill
Republican tax bill requires both parents to have a Social Security number to qualify for the Child Tax Credit, a policy shift that would make millions of kids ineligible.
Watch CBS News
Republican tax bill requires both parents to have a Social Security number to qualify for the Child Tax Credit, a policy shift that would make millions of kids ineligible.
During Tuesday's VP debate, CBS News chief foreign affairs correspondent and "Face the Nation" moderator Margaret Brennan asked Minnesota Gov. Tim Walz and Ohio Sen. JD Vance about how their administrations would approach child care issues, the paid family leave model and more.
The Wharton School says Harris and Trump campaigns' economic proposals would increase the national deficit. "CBS Evening News" anchor and managing editor Norah O'Donnell asked Minnesota Gov. Tim Walz and Ohio Sen. JD Vance how they would pay for the plans without ballooning the deficit.
Government figures show it now costs more than $300,000 to raise a child from birth to age 18.
Government figures show it now costs more than $300,000 to raise a child from birth to age 18. Since 1997, the federal child tax credit has been helping parents save a little bit of that money. Now, both the Harris and Trump campaigns are proposing supersized versions of the tax break. Nancy Cordes reports.
Harris also wants to restore the pandemic's expanded Child Tax Credit. That could help millions of families, but cost $1.6 trillion.
Vice President Kamala Harris rolled out her plan to address specific economic policies Friday while campaigning in Raleigh, North Carolina. Her proposals include subsidizing low-wage workers and families with children. Harris also proposed some benefits for first-time homebuyers. CBS News' Nancy Cordes reports and David Wessel, a senior fellow in economic studies at Brookings, breaks down how economists may view some of the proposals.
Vice President Kamala Harris will lay out the details of her economic plan and proposed policies if she is elected president in November. CBS News chief White House correspondent Nancy Cordes previews the campaign event in Raleigh, North Carolina.
Senator JD Vance says he wants to boost the Child Tax Credit to $5,000 from its current $2,000. But that could come with a big price tag.
Sen. JD Vance suggested on "Face the Nation" that he'd like to see the Child Tax Credit increased to $5,000. CBS News congressional correspondent Nikole Killion has more on Vance's proposal, which comes after he skipped a failed Senate vote on expanding the benefit earlier this month.
In today's MoneyWatch, a potential game-changer for parents: Congress is considering a significant expansion of the child tax credit, which could mean increased savings or larger tax refunds for families. CBS News business analyst Jill Schlesinger has more.
A major tax package that would bolster the popular Child Tax Credit and cut taxes for businesses failed to advance in the Senate on Thursday in the face of widespread Republican opposition.
After passing easily in the House, a bill that would have expanded the CTC is stalled in the Senate. Here's what to know.
The Child Tax Credit is one step closer to getting a major expansion, potentially putting more money in parents' pockets.
The U.S. GDP grew at a faster rate than expected in the fourth quarter of 2023, increasing at a 3.3% annualized rate. CBS News business analyst Jill Schlesinger has more on the numbers, as well as possible changes to the child tax credit.
The 2021 child tax credit expansion positively impacted poverty rates in the United States during the pandemic. CBS News' Lana Zak is looking at the new benefits behind a proposed plan expansion, which would incrementally increase funds for qualified parents.
One analysis said bipartisan deal in Congress would boost the tax credit for 16 million children, lifting some out of poverty.
Tax season comes to a close Tuesday. Thomas Godwin, an assistant professor of accounting at Purdue University, joins Elaine Quijano and Michael George to look ahead to next year's tax season and offer advice on how Americans can begin planning for it.
The deadline to submit your taxes is Tuesday. Mark Steber, a senior vice president and chief tax information officer at Jackson Hewitt Tax Service, joined "CBS News Mornings" with tips for last-minute filers and advice for making the process go as smoothly as possible.
Pratik Patel, the head of Family Wealth Strategies for BMO Family Office, joins CBS News' Lilia Luciano and Lana Zak to discuss the Child Tax Credit. He explains who qualifies, who doesn't, and how it could impact your tax refund.
Early IRS data provides a peek at what to expect for the millions of Americans who have yet to file their taxes.
Many tax benefits instituted during the pandemic have lapsed, which means some people could see smaller refunds.
"A lot of people will get their refunds and they won't get as much as anticipated," one expert said as tax season kicks off.
IRS officials say 9 million Americans are still eligible for stimulus aid, but clock is ticking to claim funds.
COVID cases and hospitalizations rising again in U.S.; Future of enhanced child tax credit up in the air
Former Secretary of State Hillary Clinton said in her opening statement before the House Oversight Committee that she had no knowledge of Jeffrey Epstein's crimes.
Trump says he won't let Iran to build a nuclear weapon, and Iran says it doesn't intend to, but as talks resume, experts see war as more likely than a deal.
Michael Ortega Casanova is one of four people who were killed after people aboard a U.S.-registered speedboat allegedly opened fire on Cuba's border patrol.
U.S. District Judge Richard Leon ruled Thursday that the legal challenge brought by a preservationist group failed because the White House is not a government agency.
The investigation into the disappearance of Nancy Guthrie is still running at full speed, a law enforcement source familiar with the investigation told CBS News.
Federal drug enforcement investigators targeted Jeffrey Epstein and 14 others in a yearslong probe first reported by CBS News.
They all worked on former Special Counsel Jack Smith's investigation into President Trump's retention of classified records.
Defense Secretary Pete Hegseth gave Anthropic until Friday at 5 p.m. to grant the military unresticted use of its AI technology.
A bipartisan Senate duo is teaming up on legislation that would ban large investment firms from snapping up single-family homes, a measure they say is aimed at the country's housing affordability crunch.
On Tuesday, the FDA upgraded the recall to Class I, a situation in which a product can cause "serious adverse health consequences or death."
Struggling pizza chain Papa John's said it will close 200 restaurants this year and another 100 by the end of 2027.
The investigation into the disappearance of Nancy Guthrie is still running at full speed, a law enforcement source familiar with the investigation told CBS News.
Cody Roberts agreed to a plea deal that would spare him from going to trial and possibly prison on charges of animal abuse.
The decline in the average 30-year mortgage rate could be good news for home shoppers as the spring home-buying season gets rolling.
On Tuesday, the FDA upgraded the recall to Class I, a situation in which a product can cause "serious adverse health consequences or death."
Struggling pizza chain Papa John's said it will close 200 restaurants this year and another 100 by the end of 2027.
The decline in the average 30-year mortgage rate could be good news for home shoppers as the spring home-buying season gets rolling.
The Federal Trade Commission, joined by 11 states, claimed that the retail giant deceived its employees about pay and the tips they could earn.
Ford said a tech glitch can increase the risk of a crash for vehicles towing a trailer. Here's what to look for.
New York City Mayor Zohran Mamdani traveled to Washington, D.C. Thursday to meet with President Trump.
U.S. District Judge Richard Leon ruled Thursday that the legal challenge brought by a preservationist group failed because the White House is not a government agency.
A federal judge is weighing whether to dismiss the criminal case against Kilmar Abrego Garcia on the grounds the prosecution is vindictive.
The Department of Homeland Security said ICE agents detained Elmina Aghayeva at Columbia University Thursday, saying her student visa was revoked in 2016.
The Trump administration asked the Supreme Court on Thursday to allow it to end temporary deportation protections for thousands of Syrian immigrants living in the U.S.
Chaz and Jean Franklin were facing a sevenfold increase in their health premium payments with the expiration of enhanced federal subsidies for Affordable Care Act plans. Then Jean received a crushing diagnosis.
A British gym chain is offering classes in "kidulting," luring adults into fitness with classes built around playground and PE class classics.
Starting in 2027, the Danish pharma firm will sell its weight-loss and diabetes drugs for $675 per month.
Robert F. Kennedy Jr. has criticized the broadening use of anxiety medications, but doctors and researchers say the MAHA movement is misrepresenting drugs that have been proven to help.
After decades of American children routinely receiving polio vaccines, the virus that had doomed many to paralysis was nearly eliminated in the United States. But vaccine avoidance today may allow the crippling disease to return.
A Hong Kong appellate court on Thursday quashed onetime media magnate Jimmy Lai's fraud convictions linked to lease violations, in a rare victory in the prominent activist's legal battles.
The founder of a Kenyan recruitment agency stands accused of deceiving and then trafficking young Kenyans to fight in Russia's war on Ukraine.
As U.S. and Ukrainian officials meet to talk peace, Russia launches drones and missiles and makes it clear there's no rush in Moscow for a ceasefire.
Michael Ortega Casanova is one of four people who were killed after people aboard a U.S.-registered speedboat allegedly opened fire on Cuba's border patrol.
Naval personnel also seized "thousands of liters and kilos of chemical precursors," the Secretariat of the Navy said Wednesday.
A second season of "Heated Rivalry" is underway and filming will begin this summer, says show creator and director Jacob Tierney.
Toccara Jones, who competed in the "America's Next Top Model" reality show, joins CBS News 24/7 Mornings with her take on the new Netflix documentary exploring the competition show created by Tyra Banks.
Jacob Tierney, the creator, writer, director and executive producer of "Heated Rivalry," and Brendan Brady, who is also an executive producer on the show, speak to "CBS Mornings" about the success, why it resonates with a diverse group of people and what to expect from its second season.
In the premiere of "Survivor 50," contestant Jenna Lewis-Dougherty was voted out at the first trial council. But in a surprise, castaway Kyle Fraser was also eliminated after hurting his achilles tendon during the immunity challenge. Lewis-Dougherty and Fraser speak to "CBS Mornings" about their experience on the show and how they've been changed by the game.
Actor and comedian Deon Cole is back to host the NAACP Image Awards. Cole joins CBS News with more on what to expect.
Everest Nevraumont, an AI advocate who attends a school that prioritizes the technology, joined CBS News 24/7 Mornings with more on her experience as first lady Melania Trump's guest at the State of the Union address.
More details are emerging about an apparent deal for OpenAI to obtain $100 billion. Puck's Ian Krietzberg joins CBS News with more on the latest artificial intelligence power play.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Starting next week, parents will get an alert if their teen repeatedly searches for certain terms related to self-harm or suicide in a short time span.
When a deadly avalanche struck outside Lake Tahoe, California, an iPhone feature allowed the surviving skiers to get the help they needed. Tim Werth, tech editor at Mashable, joins CBS News to explain.
Documents might help scientists shed light on unexplained phenomena and government secrets, experts said.
A large shark was caught on camera for the first time in Antarctica's waters, surprising researchers. "There's a general rule of thumb that you don't get sharks in Antarctica," one said.
On the evening of Christmas 1776, Gen. George Washington surprised the King's forces by leading the Continental Army in a surprise crossing of a near-frozen Delaware River - a watershed military maneuver that dramatized a changing America, and a changing climate.
On the evening of Christmas 1776, Gen. George Washington surprised the King's forces by leading the Continental Army in an unanticipated crossing of a near-frozen Delaware River. Environmental correspondent David Schechter looks at how Washington's watershed military maneuver dramatized both a changing America, and a changing climate.
The Winter Olympics in Milan need artificial snow due to climate change and warmer weather. Athletes say man-made snow makes terrain more difficult and unpredictable. Rob Marciano reports on its impact.
Authorities are preparing to return Nancy Guthrie's home to her family after sealing it off as a crime scene, a law enforcement search says. The search for the 84-year-old is entering its fourth week. CBS News correspondent Jonathan Vigliotti has more.
The investigation into the disappearance of Nancy Guthrie is still running at full speed, a law enforcement source familiar with the investigation told CBS News.
Cody Roberts agreed to a plea deal that would spare him from going to trial and possibly prison on charges of animal abuse.
Former Secretary of State Hillary Clinton shared her opening remarks for her closed-door deposition before members of the House Oversight Committee on her knowledge of Jeffrey Epstein's dealings. CBS News' Nikole Killion reports.
Ryan Schwank, who testified against ICE training practices under the Trump administration, joins CBS News with his lawyer, David Kligerman, to discuss what he alleges is a "deficient, defective, and broken" training program.
NASA is rolling back the Artemis II moon rocket from its launch pad at the Kennedy Space Center in Florida. It is expected to take up to 12 hours to move the 322-foot rocket, with the journey spanning four miles back to its hangar for repairs. CBS News space consultant Bill Harwood has more.
Fixing the Space Launch System rocket's helium pressurization problem has pushed the Artemis II launch to at least April 1.
NASA astronaut Mike Fincke said he was the crew member whose medical issue required a group of space station fliers to return to Earth earlier than planned last month.
Documents might help scientists shed light on unexplained phenomena and government secrets, experts said.
The space agency said Sunday it's targeting Tuesday for the slow, four-mile trek across Kennedy Space Center, weather permitting.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
The House Oversight Committee deposition of Hillary Clinton in Chappaqua, New York, on Thursday was temporarily paused after Republican Rep. Lauren Boebert of Colorado sent a photo of Clinton to a right-wing political commentator. CBS News reporter Erica Brown has the latest.
Authorities are preparing to return Nancy Guthrie's home to her family after sealing it off as a crime scene, a law enforcement search says. The search for the 84-year-old is entering its fourth week. CBS News correspondent Jonathan Vigliotti has more.
Former Secretary of State Hillary Clinton told the House Oversight Committee on Thursday that she had "no idea" about Jeffrey Epstein or Ghislaine Maxwell's criminal activities. Clinton is sitting for a deposition with members of the committee focused on Epstein. CBS News congressional correspondent Nikole Killion has more.
Cuba's interior ministry said Wednesday that a speedboat from Florida that had entered Cuban waters was carrying weapons and that its occupants, Cuban nationals living in the U.S., allegedly planned to carry out terrorism on the island. The country's coast guard killed four people on the boat after the occupants opened fire, the Cuban government said. CBS News White House reporter Willie James Inman has more.
A student at Columbia University was detained by DHS agents Thursday morning at one of the school's residential buildings, the university's acting president said. CBS News immigration correspondent Camilo Montoya-Galvez has more.