Trump urges Congress to pass bill allowing new parents to advance tax credits

Trump urges Congress to pass bill allowing new parents to advance tax credits

President TrumpDonald John TrumpCDC updates website to remove dosage guidance on drug touted by Trump Trump says he'd like economy to reopen 'with a big bang' but acknowledges it may be limited Graham backs Trump, vows no money for WHO in next funding bill MORE on Tuesday urged Congress to pass bipartisan legislation to allow new parents to advance child tax credits, saying it would allow parents across the country to have access to paid family leave.

"I call on Congress to pass the bipartisan Advancing Support for Working Families Act, extending family leave to mothers and fathers all across our nation," Trump said in his State of the Union Address.

The bill Trump backed allows people to elect to advance up to $5,000 in child tax credits upon birth or adoption of a child. In exchange, the parents would receive a reduction in the amount of their child tax credits in each of the following 10 years. New parents would be able to use the advance on tax credits to finance a leave or to pay for child care or other child-related expenses.

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The bill has been offered by Sens. Bill CassidyWilliam (Bill) Morgan CassidyTensions boil over on Senate floor amid coronavirus debate  Overnight Energy: Democratic lawmakers seek emissions reductions in airline bailout | House Dems warn Trump against oil industry bailout | GOP senators ask Saudis to stabilize oil market GOP senators ask Saudis to stabilize oil market MORE (R-La.) and Kyrsten Sinema (D-Ariz.) in the Senate, and by Reps. Colin Allred (D-Texas) and Elise StefanikElise Marie StefanikBottom line Overnight Health Care: CDC recommends face coverings in public | Resistance to social distancing sparks new worries | Controversy over change of national stockpile definition | McConnell signals fourth coronavirus bill Lawmakers press IRS to get coronavirus checks to seniors MORE (R-N.Y.) in the House. Ivanka TrumpIvana (Ivanka) Marie TrumpPrivate equity firm with ties to Kushner asks Trump administration to relax rules on loan program: report Overnight Health Care: CDC recommends face coverings in public | Resistance to social distancing sparks new worries | Controversy over change of national stockpile definition | McConnell signals fourth coronavirus bill On The Money: Economy sheds 701K jobs in March | Why unemployment checks could take weeks | Confusion surrounds 9B in small-business loans MORE, the president's daughter and adviser, has also spoken positively about the bill.

But other lawmakers back different approaches to creating a federal paid leave benefit.

Most Democrats are co-sponsors of a bill that would create a more expansive federal paid family and medical leave benefit that would be financed by small increases in payroll taxes. And several Republicans have put forth proposals to give new parents the option to advance some of their Social Security benefits to use for paid leave, in exchange for delaying or receiving reductions in their Social Security benefits when they retire.