Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) cosponsored legislation to put money back in the pockets of Nevada families during tax season. The American Family Act would create a new expanded child tax credit for families with children under 6 and increase the maximum child tax credit for children 6 years and older. The bill would make both credits fully refundable, ensuring low-income families receive the full benefit of the credits.
“Far too many Nevada families are struggling to make ends meet, and children bear the brunt of this financial insecurity, with 1 in 5 children in our state living in poverty. The American Family Act provides much-needed relief for low-income and middle class families in Nevada, helping them pay bills, afford childcare, or make important investments in their kids’ future. I’m proud to join Senators Brown and Bennet in this effort to make our tax system work for all families.”
In addition to Cortez Masto, Brown and Bennet, this bill was also cosponsored by Senators Tammy Baldwin (D-Wis.), Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Ben Cardin (D-Md.), Chris Coons (D-Del.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), Kirsten Gillibrand (D-N.Y), Kamala Harris (D-Calif.), Maggie Hassan (D-N.H.), Martin Heinrich (D-N.M.), Mazie Hirono (D-Hawaii), Amy Klobuchar (D-Minn.), Patrick Leahy (D-Vt.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Patty Murray (D-Wash.), Bernie Sanders (I-Vt.), Brian Schatz (D-Hawaii), Jeanne Shaheen (D-N.H.), Debbie Stabenow (D-Mich.), Chris Van Hollen (D-Md.), Elizabeth Warren (D-Mass.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).
The American Family Act would create a new Young Child Tax Credit of $3,600 per year for children under 6 years of age, up from the current maximum of $1,000 per year, and it would expand the Child Tax Credit to $3,000 per year for children ages 6 to 18, up from the current maximum of $1,000 per year. Currently, the Child Tax Credit is only available for children under 17.
Additionally, this legislation would make both child tax credits fully refundable, allowing low-income families to receive the full benefit of the credits. The American Family Act would adjust both child tax credits for inflation to preserve their value in the future.