Child Tax Credit

By: 23 Newsroom
By: 23 Newsroom

The $400 per child checks are a tax credit intended to stimulate the economy. About $12 billion in child tax credits will be handed out as part of president bush's $350 billion tax cut package, but what the federal government gives.

The states may take away. A third of the money families are getting back from the federal government may be going straight to the state.

The White House predicts a record $455 billion deficit for the federal government this year. Democrats fear the tax cuts will only deepen that hole.

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