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.
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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
Three people were killed in a shooting at the Islamic Center of San Diego, and two suspected shooters were found dead inside a vehicle nearby, police said.
President Trump had warned Sunday that "the Clock is Ticking" for Iran to accept a peace agreement.
Thirty years ago, a Cuban fighter jet shot down two civilian planes operated by Florida-based exile group Brothers to the Rescue, an incident that inflamed U.S.-Cuba relations.
Massie said the president is worried about his preferred candidate Ed Gallrein's chances in the Kentucky race.
President Trump had accused the Treasury Department and IRS of unlawfully allowing a government contractor to leak his tax returns and those of his sons and company.
The Trump administration is doubling down on efforts to resettle White Afrikaners from South Africa as refugees, proposing to increase the government's refugee cap to welcome thousands more of them, according to a plan obtained by CBS News.
Iran executed more than twice as many people last year as it did in 2024, according to a new report by Amnesty International.
At issue in the cases was who can bring lawsuits in federal court to address potential violations of Section 2 of the Voting Rights Act.
New York Gov. Kathy Hochul said the MTA and LIRR unions reached "a fair deal" to end the strike after three days.
New York Gov. Kathy Hochul said the MTA and LIRR unions reached "a fair deal" to end the strike after three days.
With inflation hitting its highest point since 2023, Kiana Powell told CBS News, "I cannot let a deal go to waste if it's something that I am using daily."
The New York Times sued the Defense Department Monday for the second time in recent months over media access.
Massie said the president is worried about his preferred candidate Ed Gallrein's chances in the Kentucky race.
Acting Attorney General Todd Blanche announced the creation of the fund as part of the settlement of President Trump's lawsuit against the IRS over the leaking of his tax returns.
With inflation hitting its highest point since 2023, Kiana Powell told CBS News, "I cannot let a deal go to waste if it's something that I am using daily."
U.S. wage growth is lagging inflation for the first time since 2023, eroding consumers' purchasing power.
California jury dismissed all charges, finding that Musk missed the three-year statute of limitations to file suit.
The combined company will serve about 10 million utility customers across Florida, Virginia, North Carolina and South Carolina.
Accessory Dwelling Units, or ADUs, are small, fully-functional secondary homes located on the same property as a main home, usually in the backyard, filling a vital need where housing has proved scant or expensive.
The Trump administration is doubling down on efforts to resettle White Afrikaners from South Africa as refugees, proposing to increase the government's refugee cap to welcome thousands more of them, according to a plan obtained by CBS News.
The New York Times sued the Defense Department Monday for the second time in recent months over media access.
Massie said the president is worried about his preferred candidate Ed Gallrein's chances in the Kentucky race.
Acting Attorney General Todd Blanche announced the creation of the fund as part of the settlement of President Trump's lawsuit against the IRS over the leaking of his tax returns.
Thirty years ago, a Cuban fighter jet shot down two civilian planes operated by Florida-based exile group Brothers to the Rescue, an incident that inflamed U.S.-Cuba relations.
A missionary doctor who was serving in Congo will receive treatment in Germany after testing positive for Ebola. Skyler Henry has the latest.
An American medical missionary in the Democratic Republic of the Congo has a confirmed case of Ebola, and is being taken to Germany for treatment.
The virus behind the latest Ebola outbreak is the Bundibugyo virus, which is less common and there is no vaccine or treatment.
The Trump administration announced it's restricting people who don't have U.S. passports from entering the country if they have been in Congo, South Sudan or Uganda amid the Ebola outbreak.
A CBS News investigation into youth residential treatment programs finds allegations of abuse, a lack of federal oversight, and families left to navigate a multibillion-dollar industry largely on their own.
Iran executed more than twice as many people last year as it did in 2024, according to a new report by Amnesty International.
Thirty years ago, a Cuban fighter jet shot down two civilian planes operated by Florida-based exile group Brothers to the Rescue, an incident that inflamed U.S.-Cuba relations.
President Trump said he received a request from the leaders of Qatar, Saudi Arabia and the United Arab Emirates.
A man armed with a rifle carried out a string of attacks, killing at least six people and wounding eight others, Turkish President Recep Tayyip Erdogan said.
An American medical missionary in the Democratic Republic of the Congo has a confirmed case of Ebola, and is being taken to Germany for treatment.
Rob Cesternino, a 2-time "Survivor" castaway, talks about the upcoming "Survivor 50" finale, who he think will make the final three and who is his favorite to win the game.
Golden Globe-nominated actor Hayden Panettiere shares her story and opens up about life in the spotlight as a young actor, postpartum depression and her healing journey.
Jane Pauley hosts our annual look at design. Featured: Tiny homes in your backyard; Louis Vuitton; Adobe house construction; Finland's Marimekko; domino art; Philadelphia food favorites; chandeliers; Longwood Gardens; rare maps; and director Jon Favreau of "The Mandalorian and Grogu."
"Call Her Daddy" host Alex Cooper said on Instagram that she and husband Matt Kaplan are expecting their first child.
Jon Favreau, creator of the "Star Wars" series "The Mandalorian," has now brought the father-son relationship of Pedro Pascal's bounty hunter and his charge "Baby Yoda" to the big screen.
A California jury on Monday unanimously dismissed Elon Musk's lawsuit against OpenAI and its top executives. CBS News legal contributor Jessica Levinson breaks down the case.
A California jury on Monday unanimously dismissed Elon Musk's lawsuit against OpenAI and Sam Altman. CBS News senior business and technology correspondent Jo Ling Kent reports.
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.
California jury dismissed all charges, finding that Musk missed the three-year statute of limitations to file suit.
A nine-person jury will begin deliberations Monday in Elon Musk's $150 billion civil lawsuit against OpenAI CEO Sam Altman. Rachel Metz, artificial intelligence reporter for Bloomberg, joins with more.
The upcoming El Niño could trigger frequent and widespread flooding in coastal areas around the United States, even when storms aren't actively taking place, scientists warn.
The long-necked herbivore is the largest ever found in Southeast Asia, researchers said.
The last time an El Niño pattern occurred was in 2023, when the Eastern Pacific hurricane season produced 20 tropical systems.
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
Greater protections for endangered emperor penguins and how to manage growing tourism are topping the agenda at talks on Antarctica in Japan.
Police held a news conference Monday evening to give an update on the deadly shooting at the Islamic Center of San Diego. Authorities say the two suspects killed three others before being found dead in a nearby vehicle.
Luigi Mangione appeared in court on Monday for a pivotal hearing where a judge ruled what items can and cannot be used as evidence in his upcoming state murder trial over the killing of UnitedHealthcare CEO Brian Thompson. CBS News legal reporter Katrina Kaufman was inside the courtroom.
A judge on Monday ruled a 9 millimeter gun, a silencer and a red notebook allegedly found in the search of Luigi Mangione's possessions can be used as evidence in his state trial for the murder of UnitedHealthcare CEO Brian Thompson in September. Lilia Luciano has more.
Police say three adults were killed when two shooters opened fire Monday at the Islamic Center of San Diego. Jonathan Vigliotti has more.
At least three adults were killed when a pair of gunmen opened fire at the Islamic Center of San Diego on Monday. The two teenage suspects were found dead inside a nearby car, officials say. CBS News' Anna Schecter has the latest.
The International Space Station-bound SpaceX Cargo Dragon is loaded with 6,500 pounds of needed equipment, research gear and crew supplies.
Researchers expected to find "a gradual increase in artificial light at night," but instead saw "much more nuanced patterns," NASA said.
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
NASA's Apollo 17 crew reported seeing three mysterious dots and sparks that resembled fireworks, according to new files released by the Pentagon.
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
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.
On Feb. 24, 1996, Cuba shot down two civilian aircraft, prompting global outcry. Watch CBS News' coverage of the aftermath.
Republican Rep. Thomas Massie is bearing the brunt of the White House in his primary race for Kentucky's 4th Congressional District against Trump-backed Ed Gallrein. Massie spoke with CBS News' Ed O'Keefe a day before the election about the record-breaking spending in his race, his views on Israel, President Trump and more.
Rep. Thomas Massie is facing Trump-backed retired Navy SEAL Ed Gallrein in Tuesday's primary for Kentucky's Fourth Congressional District. CBS News congressional reporter Taurean Small has the latest.
Three people were killed in a shooting at the Islamic Center of San Diego; Trump says U.S. won't go forward with scheduled attack on Iran.
Police held a news conference Monday evening to give an update on the deadly shooting at the Islamic Center of San Diego. Authorities say the two suspects killed three others before being found dead in a nearby vehicle.