On January 19, 2024, the US House Ways and Means Committee approved H.R.7024 - Tax Relief for American Families and Workers Act of 2024. This bill makes four changes to the Child Tax Credit (CTC), including phasing in the Additional Child Tax Credit (refundable portion of the CTC) with respect to the number of children. Currently, it phases in at 15 cents per dollar of earnings above $2,500; the bill changes that to 15 cents times the number of qualifying children.

This will resolve TRUE if, by 2024-04-15 (the 2023 tax filing deadline), the US enacts legislation to increase the phase-in rate of the 2023 Additional Child Tax Credit. That could include the per-child phase in, or increasing the 15% to a higher percentage. If the US extends the tax filing deadline, I will extend the market accordingly.