SB 107-23: Indexing the Child Tax Credit to Inflation Act (Passed)

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So this act if enacted would index the Child Tax Credit to inflation and this act costs 19 billion dollars according to the Committee for a Responsible Federal Budget. I urge my fellow Senators to pass this act because this ensures that the Child tax credit stays the same regardless of the amount inflation we have.

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Make sure to authorize the $19 billion in the bill itself before doing anything else, so that future presidents and vice presidents won't have to go through what we did.

Sorry for not responding sooner but how would one do that?

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Make sure to authorize the $19 billion in the bill itself before doing anything else, so that future presidents and vice presidents won't have to go through what we did.

Sorry for not responding sooner but how would one do that?

Just make sure the price is reflected in the final text so that it will be easier to compile expenditures.

Would this be good?

Indexing the Child Tax Credit to Inflation Act
1. The child tax credit is to be indexed to inflation from the 2023 fiscal year onwards.
2. The expenditure of this act is 19 billion dollars.

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Ishan, please clarify.

Mr President PT, I will of course like to withdraw my objection once clarity is provided.

Well, it is 19 billion over the next 10 fiscal years iirc. I'll check again when I get access to a laptop that has excel.

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Ishan?

Well, I accessed the tool again and the 19 billion is for the next ten fiscal cycles.

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Indexing the Child Tax Credit to Inflation Act
1. The child tax credit is to be indexed to inflation from the 2023 fiscal year onwards.
2. The expenditure of this act is 19 billion dollars from a 0.6% increase in the 40.6% tax bracket which shall be spent over the next ten fiscal cycles.

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Fixed.

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I object. Where will the funding for this legislation come from?

Do you still object?

Yes. The bill says from "new appropriations" but where is the money coming from specifically?

Clarified.

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Aye