Payments from President Biden's expanded child tax credit began flowing to parents on Thursday. Supporters believe they will change lives.
That changed Thursday when the first payment of $1,000 hit Daniel’s bank account — and dollars started flowing to the pockets of more than 35 million families around the country. Daniel, a 35-year-old mother of four, didn’t even know the tax credit existed until President Biden expanded it for one year as part of the $1.9-trillion coronavirus relief package that passed in March.
Biden has held out the new monthly payments, which will average $423 per family, as the key to halving child poverty rates. But he is also setting up a broader philosophical battle about the role of government and the responsibilities of parents.Biden’s ambitious child tax credit, putting cash in families’ bank accounts soon, could cut child poverty in half. But a lot has to go right on a tight deadline.
The president ultimately would like to make the payments permanent — and that makes this first round of payments a test as to whether the government can improve the lives of families. “Not only does Biden’s plan abandon incentives for marriage and requirements for work, but it will also destroy the child-support enforcement system as we know it by sending cash payments to single parents without ensuring child-support orders are established,” Rubio said in a statement Wednesday.Cutting child poverty in half could be one of President Biden’s major legacies. But a permanent program is expensive, and Biden may go for less.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Child tax credit payments could act as stimulus for retailers as soon as this monthThe enhanced child tax credits, which begin Thursday, will be the latest government-funded cash infusion.
Weiterlesen »
Monthly child tax credit payments begin soon: Everything you need to knowThe IRS will pay half the total credit amount in monthly payments, starting July 15.
Weiterlesen »
The First Child Tax Credit Payments Go Out To 65 Million Kids This WeekThe First Child Tax Credit Payments Go Out To 65 Million Kids This Week “65 million kids are expected to receive extended child tax credits from the government this week. Here’s information on who qualifies and how families can claim their credits.”
Weiterlesen »
Child Tax Credit Payments Totaling $15 Billion Arrive for Millions of AmericansThe first monthly child tax credit payments are landing in bank accounts Thursday as lawmakers weigh whether the plan should last beyond December.
Weiterlesen »
Biden to tout 'historic' effort to end child poverty in remarks on expanded child tax creditPresident Joe Biden will deliver remarks Thursday touting the expanded child tax credit, a provision of his administration's Covid-19 relief package aimed at reducing child poverty.
Weiterlesen »
The first child tax credit payments go out to 65 million kids this week. How to navigate the processThe first child tax credit payments go out to 65 million kids this week. How to navigate the process. investinyou (In partnership with acorns.)
Weiterlesen »