Democrats on Capitol Hill will unveil a new proposal this week to extend President Joe Biden’s monthly Child Tax Credit through 2025 in an effort to elevate millions of struggling families out of poverty.
“On Tuesday, we will continue our work on the Build Back Better Act with the consideration of investments to provide critical support to families, spur the development of clean energy, reinstate Build America Bonds, and improve Americans’ ability to afford health care,” House Ways and Means Committee Chair Richard Neal (D-MA) announced on Friday. “Our proposals allow us to both address our perilously changing climate and create new, good jobs, all while strengthening the economy and reinvigorating local communities. We seek to help families better afford essentials with the continuation of the expanded Child Tax Credit and investments that will lower the cost of prescriptions and health insurance premiums. Taken together, these proposals expand opportunity for the American people and support our efforts to build a healthier, more prosperous future for the country.”
Families will receive $250 per month for each kid between the ages of 6 and 17 and $300 per month for children under 6 years old. The next round of payments is scheduled for distribution this Wednesday, September 15th.
Despite the economic benefits of subsidizing low and no-income families, Republicans – who have given away trillions of taxpayer dollars to the rich who do not need the financial help – have balked at the measure, defaulting to their tropes about how disadvantaged families are more likely to commit fraud.
“Democrats have turned the Child Tax Credit into Welfare Without Work, which if they make permanent will harm families, risk the loss of billions of taxpayer dollars in waste and fraud, and cost American jobs,” Republican members of the Ways and Means Committee said in a statement obtained by CNBC.
That, CNBC noted on Monday, is completely false.
“Research from the Center on Budget and Policy Priorities has found that the American Rescue Plan will help reduce child poverty by more than 40 percent,” wrote CNBC. “The fact that the child tax credit is now fully available to families regardless if their income accounts for 87% of its anti-poverty effects, according to the Center.”
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Brandon is a political writer for the Hill Reporter specializing in current events, breaking news, and scientific discovery. Brandon holds a Bachelor of Music degree from Indiana University. He lives in New York City.