By Bernie Becker - 08/29/13 09:49 PM EDT
The child credit was first enacted more than 15 years ago, and both Presidents George W. Bush and Obama expanded it. Congress extended the expansions contained in the 2009 stimulus package through 2017 in the "fiscal cliff" deal.
Proponents of the credit say that it’s a needed safety net for children, with the Center on Budget and Policy Priorities saying that the child credit and Earned Income Tax Credit helped almost 5 million children out of poverty.
Many conservatives also favor tax preferences for having and raising a family, though some have also pointed to a Treasury audit that found billions of dollars in credits handed to unauthorized workers.