Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (244751)	6/10/2003 7:16:45 AM
From: Giordano Bruno	Read Replies (2) \| Respond to of 436258

President Prods House To Pass Child Tax Credit By GREG HITT Staff Reporter of THE WALL STREET JOURNAL WASHINGTON -- The White House is prodding balky House Republicans to move quickly on legislation to extend availability of the new $1,000-per-child tax credit to low-income working families. The economic package signed recently by President Bush expanded the child tax credit to $1,000 from $600, but left out provisions that would have allowed low-income working families to qualify for the more generous preference. Last week, the Senate -- under pressure from Democrats and advocacy groups -- voted overwhelmingly to address the problem. The bill it approved would expand eligibility to families with incomes between $10,500 and $27,000. Under current law, many families in that income range pay too little in taxes to qualify for the new benefit. House Republican leaders have said they don't intend to put the measure on a fast track. But White House press secretary Ari Fleischer said the White House wants any roadblocks to passage of the legislation removed. "His advice to the House Republicans is to pass it, to send it to him so he can sign it," Mr. Fleischer said. "He wants to make certain that this doesn't get slowed down, bogged down." Though many working families in those lower-income ranges pay little or no tax, the Senate bill would effectively qualify them for a cash refund this year. House Republican leaders have opposed that idea, contending only families that actually pay taxes should benefit from the most recent tax-relief legislation. The White House has voiced similar arguments in the past, but is refraining from doing so now, underscoring the political sensitivity of the issue for Mr. Bush as he pursues re-election next year. While the president has been at pains to show his concern for the flagging U.S. economy, he also has repeatedly voiced concerns about the financial squeeze facing working families, and in recent days Democrats have had success in portraying the White House and its Republican allies on the child-credit issue as out of touch with worker concerns. Write to Greg Hitt at greg.hitt@wsj.com Updated June 10, 2003