WASHINGTON — There is a bipartisan push in the U.S. Congress to expand the federal child tax credit.
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It could benefit about 16 million kids.
The proposal would extend the credit for three more years, and provide more benefits for lower-income families.
Read: IRS announces the official start of the 2024 tax season, find out the earliest you can file
However, it would cost about $35 billion, and some critics say the plan would weaken the economy.
The bill needs to pass both the Republican-led House and Democrat-led Senate to become law.
Read: IRS launches service that allows millions to file online for free
Tax season starts Jan. 29.
See more in the video above.
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