Biden economic adviser calls expiring Child Tax Credit expansion just one piece of a bigger puzzle

0
112

When Democrats passed one year of an expanded Child Tax Credit within the $1.9 trillion American Rescue Plan, many of the credit’s supporters hoped it would become permanent.

White House economic adviser Heather Boushey called the tax credit a “basic benefit” when speaking to Yahoo Finance in March as the relief package was becoming law. She predicted the overall package “will cut child poverty in half this year in no small part, due to this expansion of the Child Tax Credit.”

That prediction was largely correct, it turned out. But 10 months later, the public is roughly divided over the program and the maneuver may not have worked.

On Dec. 15, families got their last monthly check for the expanded child tax credit. While crucial Senator Joe Manchin (D-WV) has reportedly returned to the negotiating table on the Build Back Better Act, he wants the bill to either remove the tax…

Read more…

LEAVE A REPLY

Please enter your comment!
Please enter your name here