Lawmakers in Congress are facing mounting pressure from corporate lobbyists to pass business tax breaks before the end of the year, but new analysis suggests those cuts would be far more costly than promised. Joe Hughes with the Institute on Taxation and Economic Policy says reinstating the expanded Child Tax Credit would be a better investment. He says it's unclear whether corporate tax breaks would achieve their stated policy goals, but they would make a lot of very rich people even richer. Reinstating the pandemic-era Child Tax Credit would help nearly 60 million children in Wyoming and across the U-S. Proponents of corporate tax breaks passed in 2017 argue they are essential to economic growth and should be made permanent. Critics of the expanded child tax credit - which expired last year, doubling child poverty rates - warned it would discourage people from re-entering the workforce.
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