WASHINGTON, D.C.—Today, Bryan Steil joined Congresswoman Elise Stefanik (NY-21) and colleagues to introduce The Advancing Support for Working Families Act.
“Working parents deserve flexibility when dealing with child care costs. The first year of a child’s life can be one of the most expensive. Our proposal gives parents the option to receive additional support following the birth or adoption of a child. I am glad to join my colleague, Elise Stefanik, in this effort to address the challenges facing young families,” said Steil.
“The joy of starting a family should not be dampened by the fear of being unable to make ends meet if a parent takes time off work,” said Stefanik. “This bipartisan effort to support hardworking families in the first year after birth or adoption will prove critical to ensuring families can thrive without the burden of potential bankruptcy or debt. I’m proud to introduce the Advancing Support for Working Families Act with my colleagues, which will bring tangible benefits and enhance paid leave options for the hardworking families.”
The Tax Cuts and Jobs Act passed in the 115th Congress doubled the Child Tax Credit (CTC). Now, parents can claim an annual CTC of up to $2,000 for each child under the age of 17. The Advancing Support for Working Families Act gives parents the option of advancing up to $5,000 from their CTC upon the birth or adoption of a child. If parents choose to take the CTC in advance, parents would then receive an adjusted CTC of up to $1,500 annually over the next 10 years.
Senator Bill Cassidy (R-LA) introduced the companion bill in the Senate today.