Number: RS20988
Title: The Child Tax Credit After the Economic Growth and Tax Relief Reconciliation Act of 2001
Authors: Gregg A. Esenwein, Government and Finance Division 
Abstract: The Economic Growth and Tax Relief Reconciliation Act of 2001 increases the child tax credit from its prior law level of $500 to $1,000. This increase is phased in gradually over a 10-year period. The 2001 Act also makes the credit refundable for all families and changes how the refundability of the credit is calculated. Finally, the 2001 Act allows the child tax credit to be taken in full against both an individual's regular and alternative minimum tax.
Pages: 4
Date: Updated January 30, 2003