Audrey Hudson
Human Events
9/21/2011
New legislation sponsored by Rep. Sam Johnson (R.-Tex.) would block illegal immigrants from cashing in on the refundable child tax credit and save the federal government tens of billions of dollars.
“Last year illegal immigrants bilked $4.2 billion from U.S. taxpayers due to a loophole with the refundable child tax credit,” Johnson said. “According to a new report, this rampant abuse has cost American taxpayers billions. That’s just wrong.
“It’s time to close this loophole,” Johnson continued. “With the dire need to cut government spending, I hope this simple fix gets a serious look as a way to stamp out waste, fraud and abuse.”
The Refundable Child Tax Credit Eligibility Verification Reform Act (HR 1956), would amend the Internal Revenue Service (IRS) code to require that taxpayers provide their Social Security number on their tax return in order to claim the refund.
The Congressional Joint Committee on Taxation studied Johnson’s legislation and determined that it would save at least $10 billion if the temporary tax benefit expires in 2012, and $24 billion by 2021…
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