The bipartisan, bicameral tax bill would beef up the child tax credit by increasing the maximum credit per child from $1,600 to $2,000 through 2025, adjusting for inflation in 2024 and 2025.
Additionally, it calls for raising the ceiling for the low-income housing tax credit by 12.5 percent through 2025, lowering the threshold for bond-financed buildings to receive the low-income housing tax credit.
While not a perfect bill, this first provision here would put more money into the pockets of those families who need it most, and the second should make it easier/increase incentive for low-income housing (at least those financed with bonds).