Tuesday, January 26, 2010

USA Olim Heart Obama?

If you've been reading this blog for a while, you know that I've discussed at length, the possibility of US citizens resident in Israel (legally) receiving a tax credit of up to $1000 per child.

Well, here's a news scoop: USA President Obama is proposing DOUBLING the Child Tax Credit to $2000 per child!

The details are a bit murky, but the CBS affiliate, "Las Vegas Now" website posted the story.
That's what President Obama says he intends to do. In his speech, he said he wants to offer tax credits to people struggling to care for their families.

"We've just come through what was one of the most difficult decades the middle class ever faced," he said.

The president plans to nearly double the child care tax credit for families earning less than $85,000.

For example, the rate would go from 20 to 35-percent, so a family with two kids and an income of $80,000 would get a tax credit of $2,100 instead of $900.

"During these tough economic times, I think it's going to help save money. Everyone is about saving, said Alexander Gonzalez.

At the very least, many people are grateful the credit might keep them from owing money. But some parents say their hope is that this tax reform doesn't take as long as the healthcare overhaul.

"He has promised a lot of things – well, not promised, but said he'll do a lot of things. So the proof is in the pudding," said Dan Land.

The nearly doubled tax credit is for families earning less than $85,000. Families earning up to $115,000 could also see a smaller tax credit increase, but the White House hasn't said how much.
I don't know if this will pan out, but its a story we'll be following here at the Muqata.

Instead of saying people that US President Obama is a negative reason to make aliya...we see him here actively helping US Olim in Israel!

Hmmm.



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5 comments:

yoni r. said...

It also helps Arab residents in Israel who are American citizens. And there are more of those than most people realize.

Shira said...

more to give to kupah shel tzedakah

oops sorry wrong blog!

yoni r. said...

Shira,

Don't you mean Kupat Ha'ir?

Shira said...

double oops... that's what I get for taking your line

Jameel @ The Muqata said...

Shira: LOL -- I thought you meant Kupat Ha'Ir!

(thanks yoni for pointing it out ;-)

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