Bigger tax credits for you in new COVID relief bill

Washington DC

WASHINGTON (WTRF) – President Biden’s $1.9 trillion-dollar stimulus plan cleared the House last week and is now has cleared the Senate.

But how much of that money will eventually reach your wallet?

Ohio Senator Sherrod Brown says the Earned Income Tax Credit and the Child Tax Credit will be expanded in the new bill.

The E-I-T-C is intended to help those with low to moderate incomes get a tax break.

Meanwhile, the child tax credit would give more money per child to families.

The Democrat claims that it would cut Ohio’s child poverty rate in half.

He says he’s worked on the provision for years and that it’s about more than just short-term help.

We don’t want to just get out of this virus, this pandemic, we want to build back better as
the president says, we want a stronger society where we’ve seen profits go up. We’ve seen executive compensation explode upwards, and we’ve seen stock options and buybacks and all that, yet wages have been flat for most of the country.

Sen. Sherrod Brown, (D)-Ohio

Senator Brown says the bill doesn’t include everything he wanted.

He says he was hoping for an increase in the minimum wage, but that was left out due to Senate budget rules.

Brown adds that raising it to 15 dollars an hour will still be a priority for Democrats moving forward.

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