Will the US amend the 2024 Additional Child Tax Credit to depend on prior years' income before the 2023 filing deadline?

Question

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 allowing filers to use the prior year's earnings to calculate the Additional Child Tax Credit (the refundable component) beginning in tax year 2024 (looking back to 2023 earnings).

This will resolve TRUE if, by 2024-04-15 (the 2023 tax filing deadline), the US enacts legislation to allow filers to use the prior year's earnings in computing the 2024 Additional Child Tax Credit. If the US extends the tax filing deadline, I will extend the market accordingly.

Manifold Markets · Accepted Answer

No — resolved on Apr 16, 2024 by Manifold Markets prediction market.