August 1, 2012
As of August 1, 2012, the U.S. Senate and the U.S. House of Representatives each passed separate tax bills to extend for one year many – though not all – of the federal tax items currently set to expire on December 31, 2012. Among the package of expiring items are key provisions within four tax credits directly related to children and youth. These items include the Child Tax Credit, the Earned Income Tax Credit, the Child and Dependent Care Tax Credit, and the American Opportunity Tax Credit. This is a side-by-side analysis of how children and families fare in each bill.