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.
Watch CBS News
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
A unanimous federal jury found that a preponderance of evidence supported Carroll's claim that Mr. Trump sexually abused her.
President Trump says U.S.-Iran talks will resume, at Tehran's request, after several days of tit-for-tat strikes tested a shaky ceasefire.
The wife and two children of Argentine soccer star Lucas Trejo died after powerful earthquakes struck Venezuela, his team said.
The Supreme Court agreed to decide whether Arizona can impose voting rules, including a measure that requires documentary proof of citizenship to register to vote on a state form.
Current shareholders would receive shares in both companies under the planned split, Comcast said Monday.
A heat wave will blast a large swath of the U.S. this week. The National Weather Service says temperatures will feel hotter because of the high humidity that's arriving with it.
Former NFL running back Chris Johnson announced that he was diagnosed with ALS, also known as Lou Gehrig's disease, in a "Good Morning America" interview.
German police say 2 people are in custody and 5 were killed in a rare shooting that took place at a youth center in Stade, near Hamburg.
The challenge was undertaken to raise awareness for a charity she has been involved with since her own cancer treatment.
The Supreme Court on Monday ruled that states can count mail ballots that are cast by Election Day but arrive later, rejecting a GOP challenge to a Mississippi law.
The dispute arose after New York's Department of Health issued an emergency rule that required healthcare workers to be fully vaccinated against COVID-19.
Former NFL running back Chris Johnson announced that he was diagnosed with ALS, also known as Lou Gehrig's disease, in a "Good Morning America" interview.
The Supreme Court declined to take up former Harvard law professor Alan Dershowitz's case alleging CNN defamed him.
A unanimous federal jury found that a preponderance of evidence supported Carroll's claim that Mr. Trump sexually abused her.
Current shareholders would receive shares in both companies under the planned split, Comcast said Monday.
The race to build AI data centers is leading to a global shortage of memory chips, driving up the cost of personal electronics.
Countries that tax U.S. companies offering digital products and services would immediately face a 100% tariff on their exports to the U.S., President Trump said.
The Modigliani painting "Nu assis au collier" (Seated Nude Wearing a Necklace) sold for $63.9 million, the highest price achieved for a work by the artist sold at auction in Europe, Sotheby's said.
Apple is raising the prices of some MacBooks and iPads, while Microsoft is raising Xbox prices as semiconductor costs surge.
The Supreme Court on Monday ruled that states can count mail ballots that are cast by Election Day but arrive later, rejecting a GOP challenge to a Mississippi law.
The dispute arose after New York's Department of Health issued an emergency rule that required healthcare workers to be fully vaccinated against COVID-19.
The Supreme Court declined to take up former Harvard law professor Alan Dershowitz's case alleging CNN defamed him.
A unanimous federal jury found that a preponderance of evidence supported Carroll's claim that Mr. Trump sexually abused her.
The Supreme Court agreed to decide whether Arizona can impose voting rules, including a measure that requires documentary proof of citizenship to register to vote on a state form.
Former NFL running back Chris Johnson announced that he was diagnosed with ALS, also known as Lou Gehrig's disease, in a "Good Morning America" interview.
Michelle Williams struggled with high blood pressure and swelling for years before she was finally diagnosed with an unusual condition.
A trove of emails offers a new look at how the Centers for Disease Control and Prevention navigated some of the most controversial decisions of President Trump's second term.
American tennis legend Chris Evert announced that her ovarian cancer had returned in a social media post Thursday.
Some Senate Democrats want to cap the amount beneficiaries in traditional Medicare have to pay toward care, but the move is expected to draw GOP opposition for potentially adding billions to Medicare costs.
German police say 2 people are in custody and 5 were killed in a rare shooting that took place at a youth center in Stade, near Hamburg.
The wife and two children of Argentine soccer star Lucas Trejo died after powerful earthquakes struck Venezuela, his team said.
President Trump says U.S.-Iran talks will resume, at Tehran's request, after several days of tit-for-tat strikes tested a shaky ceasefire.
The incoming minister's father, Rodrigo Lara Bonilla, was serving as justice minister in 1984 when he was gunned down in Bogota on Pablo Escobar's orders.
The challenge was undertaken to raise awareness for a charity she has been involved with since her own cancer treatment.
The 2026 BET Awards included star-studded performances, a tribute to Lauryn Hill and more. Nate Burleson reports on the night's biggest moments.
RoseMarie Terenzio, John F. Kennedy Jr.'s former chief of staff, talks with "CBS Mornings" about planning his secret wedding to Carolyn Bessette nearly 30 years ago, and if Taylor Swift and Travis Kelce could pull off a secret wedding as rumors swirl about their big day.
Five years ago, Alan Jackson shared that he has a degenerative nerve condition that affects his balance called Charcot-Marie-Tooth disease, which he was first diagnosed with a decade prior.
Six-time Grammy-winning singer-songwriter James Taylor, whose choices of essential American songs include the 1961 hit "Moon River," performs Henry Mancini's tender song of heartbreak for "Sunday Morning" viewers. Accompanying Taylor are Kevin Hays on keyboards, Jon Suters on bass, and Nick Halley on percussion. [Check out the complete "Sunday Morning" Essential American Songbook at cbsnews.com/songbook.]
The comic icon behind "Curb Your Enthusiasm" brings his own perspective to America's storied past in a new HBO sketch comedy series – finally making use of his history major from college.
The transcontinental railroad changed just about everything in America: transportation, communications, commerce, cities, politics, even our perception of time. Correspondent David Pogue visits Steamtown National Historic Site, in Scranton, Pa., home to Big Boy, the biggest functioning steam train in the world, to learn how trains helped define an expansive America.
California now has the nation's first dashboard to publicly track artificial intelligence-related job trends, ones created and ones lost. As of now, early findings show no evidence of rising statewide unemployment from jobs exposed to AI. Till von Wachter, a faculty director of the California Policy Lab at UCLA, joins "The Takeout" to discuss.
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.
The race to build AI data centers is leading to a global shortage of memory chips, driving up the cost of personal electronics.
Apple and Microsoft announced they're hiking prices for some electronic products, including computers and XBOX consoles, citing a shortage of memory chips. CNET editor-at-large Scott Stein weighs in.
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
Human and animal remains unearthed in Egypt's Nile Delta reveal changing funerary practices over some 600 years, and the evolution of a key site itself.
Euclid is on a mission to chart one-third of the sky in the hopes of shedding light on the enduring mysteries of dark matter and dark energy.
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
Seahorses are unique ocean inhabitants with a head like a horse, a pouch like a kangaroo, a tail like a monkey, and the ability to camouflage themselves like a chameleon. They also exhibit an unconventional gender dynamic, in that the males do the work of carrying around fertilized eggs. Correspondent Conor Knighton goes in search of these fascinating fish – and their equally fascinating cousins, seadragons – at the Birch Aquarium at the Scripps Institution of Oceanography in California.
Alex Murdaugh is expected back in court in South Carolina on Monday for the first time since the state Supreme Court overturned his convictions for killing his son and wife. Skyler Henry reports.
For most of his life, Reggie Reed has wondered who murdered his mother Selonia Reed decades ago in Hammond, Louisiana. A fresh look at the evidence ultimately implicated the man he called his "rock" — Reginald Reed Sr., the man who lovingly raised him.
Two Flint Township, Michigan, parents, are facing several charges, including second-degree murder, in the death of their 7-year-old son, who was 255 pounds and abused and neglected, according to the Genesee County prosecutor.
Billionaire Leon Black testified before the House Oversight Committee on Friday. After Black ended the interview, the committee issued two subpoenas. Democratic Rep. Suhas Subramanyam of Virginia, a member of the House Oversight Committee, joins "The Takeout" to discuss this and the U.S. strike on Iran.
Abdikerm Eidleh, accused of playing a key role in the Feeding Our Future fraud scheme, was arrested in Somalia after more than four years, federal officials said.
The $30 million salvage operation gets underway as soon as this week with the planned launch of a robotic lifesaver.
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
Euclid is on a mission to chart one-third of the sky in the hopes of shedding light on the enduring mysteries of dark matter and dark energy.
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
The "Pink Planet," formally known as GJ504b, was discovered in 2013 and is technically not a planet but rather a "planetary-mass companion."
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
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.
High winds and heat are fueling Utah's out-of-control wildfires; Iranian drones target Bahrain after U.S. strikes Iran.
The 2026 BET Awards included star-studded performances, a tribute to Lauryn Hill and more. Nate Burleson reports on the night's biggest moments.
RoseMarie Terenzio, John F. Kennedy Jr.'s former chief of staff, talks with "CBS Mornings" about planning his secret wedding to Carolyn Bessette nearly 30 years ago, and if Taylor Swift and Travis Kelce could pull off a secret wedding as rumors swirl about their big day.
Kate, the Princess of Wales, climbed three of the highest mountains in England, Scotland and Wales to raise money and awareness for a cancer charity. The future queen is also revealing how cancer has changed her life. Holly Williams reports.
Wimbledon kicks off Monday in London and all eyes will be on the return of Serena Williams. Sports journalist and 60 Minutes correspondent Jon Wertheim previews Williams' odds and other big storylines.