LINCOLN, SNOWE INTRODUCE LEGISLATION TO EXPAND CHILD TAX CREDIT

Special to The Commercial

Washington — U.S. Senators Blanche Lincoln (D-Ark.) and Olympia Snowe (R-Maine) introduced legislation this week to ensure that more low-income, working families continue to be eligible for the child tax credit.

The legislation makes the credit permanent, setting an income threshold of $8,500 that families must meet in order to be eligible to receive its benefit. Last year, Lincoln and Snowe were successful in temporarily setting $8,500 as the income threshold for 2008.

Their legislation introduced this week would make that income level permanent and extend the credit past its scheduled expiration in 2010.

Current law dictates that families must meet an income threshold of $12,550 to be eligible for the refundable child tax credit in 2009, and even more than that in following years.

“Senator Snowe and I have fought for several years to make the child tax credit accessible to more hardworking American families,” Lincoln said. “We believe $8,500 is an appropriate level for families to be eligible for the assistance, and we will continue to fight to ensure this is made permanent law. Working parents should not be unfairly disqualified for the credit simply because their wages haven’t kept up with inflation.”

Lincoln and Snowe are members of the tax-writing Senate Finance Committee.