Parents await fate of four key tax breaks
December 18th, 2012
07:29 AM ET
1 year ago

Parents await fate of four key tax breaks

(CNNMoney) - As the countdown to a fiscal cliff reaches its final days, four key tax breaks for parents are hanging in the balance.

Lawmakers and President Obama continue to butt heads about which tax cuts should be extended. And unless a deal is inked by the end of the year, the Child Tax Credit, Earned Income Tax Credit, Child and Dependent Care Credit and the American Opportunity Credit will revert to lower levels on Jan. 1.

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Filed under: Fiscal Cliff • Taxes
soundoff (11 Responses)
  1. Gurgyl

    Middle class is hurt–do not hurt it...further.

    December 18, 2012 07:40 am at 7:40 am |
  2. Claudia, Houston, Tx

    We've seen enough death and destructed inflicted upon American parents and Congress should do no more harm.

    December 18, 2012 08:16 am at 8:16 am |
  3. Rick McDaniel

    There are far too many tax breaks for kids.

    Those with kids need to be able and willing to pay for their kids, or they shouldn't have them.

    I say let all of those tax breaks expire.

    December 18, 2012 08:22 am at 8:22 am |
  4. Rudy NYC

    FRESH MEAT. Those tax cuts do not help the "job creators." But, they do help average Americans. I think they would make for some GREAT hostages in the latest fiscal fiasco fight. Don't you?

    December 18, 2012 08:43 am at 8:43 am |
  5. Phyllis G Williams

    A Pastor said "Shovel money out to Jesus, He will shovel it back to you (Proverbs 19: 17)

    December 18, 2012 08:43 am at 8:43 am |
  6. Rudy NYC

    Rick McDaniel wrote:

    There are far too many tax breaks for kids. Those with kids need to be able and willing to pay for their kids, or they shouldn't have them.

    I say let all of those tax breaks expire.
    ------------------–
    Let all of "those" tax breaks expire, huh. Republicans played a large role in putting them into the tax code. Shouldn't we get rid of all "those" tax breaks and gimmicksthat Republicans have created? Instead of picking winners and losers.

    December 18, 2012 08:48 am at 8:48 am |
  7. Cindy

    The republicans are going to screw this up. They financially raped and pillaged our country, lining their pockets with corporate gold, they are conducting a war on women, trying to run us back into the dark ages, they preach hatred, racisim and misogyny, and they insist on selling assault rifles to criminals and sick people so they can murder our children. Republicans can't do anything right. Republicans haven't done anything right in a long, long time. They've been run by corporate greed and religious zealots too long and the party is ruined.

    December 18, 2012 09:30 am at 9:30 am |
  8. ghostriter

    Rick, I thought raising taxes on anyone is bad? Norquist's pledge didn't say don't raise any taxes....unless it's for folks we don't like.

    And you wonder why conservatives are relegated to hypocitical losers.

    December 18, 2012 09:33 am at 9:33 am |
  9. Rudy NYC

    @Cindy – Good call.

    The Republican party has become a collection of extremists who do not fit, nor are in touch, with mainstream society. The Republican party no longer stands for what it made it great. Great Republicans of the past would be thrown out of today's party. I think anyone who looks up to the past great leaders should take the hint, leave the party and no longer support it in its' current iteration.

    December 18, 2012 09:39 am at 9:39 am |
  10. Darryl

    The tax breaks for having children ? That is insanity and needs to stop. If you have kids then be prepared to support them, feed them, school them, clothe them and pay for the sitter when needed includeing after school period. Other than that do NOT bring children into this world if you can NOT take on the responsibility period. Thats is 1 goverment program that has to be stopped.

    December 18, 2012 09:39 am at 9:39 am |
  11. 2012liberal

    @daryl insanity 4 tax credit 4 home ownership also? Tax credit 4 income not earned but capital? Tax credit 4 corporate profits? Thats INSANITY!

    December 18, 2012 10:02 am at 10:02 am |