Child Tax Credit Expansion Quiz

What is the primary goal of the child tax credit expansion?

• To eliminate income tax

• To reduce child poverty

• To decrease government spending

• To increase corporate tax breaks

How many children could potentially be lifted out of poverty with the proposed expansion?

• 100,000

• 200,000

• 400,000

• 500,000

What is a major sticking point in the Senate regarding the child tax credit bill?

• The duration of the credit

• The number of eligible children

• The lookback provision for low-income families

• The amount of the credit

What is the proposed legislation package worth?

• $50 billion

• $79 billion

• $100 billion

• $150 billion

Which senator is a key figure in the negotiations for the child tax credit expansion?

• Senator Mike Kpo

• Senator Ron Wyden

• Senator Jane Smith

• Senator John Doe

What could the IRS potentially do if the child tax credit expansion is passed?

• Delay the implementation

• Eliminate the credit

• Increase the tax rate

• Apply the credit retroactively

What is the significance of the child tax credit according to the video?

• It is a powerful tool in reducing child poverty

• It is a corporate tax incentive

• It is a political strategy

• It is a temporary financial aid

What is the potential impact of the child tax credit expansion on families?

• Increased taxes

• Significant financial relief

• Increased financial burden

• No impact

Why is it important to stay informed about the child tax credit expansion?

• To understand its impact on personal finances

• To avoid paying taxes

• To reduce government spending

• To support corporate tax breaks

What is the broader aim of the $79 billion legislation package?

• To reduce government debt

• To balance family support and business incentives

• To increase military spending

• To cut down on social welfare programs