Any family making over $60,000 a year could struggle to pay back a surprise tax bill, thanks to Democrats’ child tax credit. According to the Wall Street Journal:
“[R]oughly 36 million families who received child tax credit payments last year, [will] find out how much they owe. Those who have already spent what they received last year may be hard-pressed to pay it back.”
Millions of Americans are going to be hit with additional surprise tax bills and paperwork due to overpayments by the IRS, the Wall Street Journal reports:
“These families will now have to submit an additional form with their 2021 income-tax returns and pay whatever they owe (or claim whatever they still have coming).
“It’s a good lesson in the limitations of the IRS—it isn’t well-positioned to make welfare payments.”
Democrats transformed the child tax credit into a massive welfare program, discouraged work, and made the labor shortage worse by paying people more to stay home than to reconnect to work.
The IRS’s distribution of “cash for kids” checks has been plagued with unaddressed fraud and missing payments. One study found the checks failed to reach many vulnerable kids.
“In addition to fraud and tax-preparation errors, the report blamed complex rules, lack of data, and eligibility changes. But in responding to the report, the IRS chief financial officer may have identified the essential problem: ‘The tax system is primarily a collection system and not a payment program.’”
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- While Main Street struggled with a labor crisis, Democrats transformed the formerly bipartisan tax relief for working parents into a welfare program for millions of Americans by eliminating the long-standing requirement for work.
- Ways and Means Republicans Rep. Kevin Brady (R-TX) and Rep. Mike Kelly (R-PA) urged top Biden Administration officials in letters in April and November to address the rampant fraud and improper payments wasting billions of taxpayer dollars.
- Meanwhile, small businesses are still struggling to fill over 10 million jobs openings. Paying parents not to work makes the labor shortage worse and drives up inflation.