Although the arrival of a fourth economic stimulus check remains an unknown, The United States was an important step after this week began to send the Tax Credit payments for each child, same that is within the ‘American Rescue Plan’.
Approximately 35 million American families began to receive this same week the payment of the Tax Credit for each child, a very important step for the North American nation, at least that is how President Joe Biden considers it.
Under the program known as Child Tax Credit, which was expanded under Biden’s COVID-19 bailout package, eligible families collect a monthly payment. Initial up to $ 300 for each child under the age of six and up to $ 250 for each older child.
What did Biden say?
Biden’s plan is not short-term, but the president considers that the Tax Credit for each child should still be extended until the following years of his mandate. Precisely this extension would be in the package of $ 3.5 billion dollars that the Democratic senators are preparing, who expect strong Republican opposition.
The expanded Child Tax Credit is one of the largest-ever single-year tax cuts for families with children. And it’s a reflection of my belief that the people who need a tax cut aren’t those at the top. It’s the folks in the middle, and the folks who are struggling.
– President Biden (@POTUS) July 15, 2021
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“It is our effort to take another giant step to end child poverty in America. This can change the lives of many families.” were the words of the top Democratic president during a speech on Thursday, July 15.
However, Many senators from the Republican Party are against this measure that Biden plans to implement until at least 2025. Republicans argue that it is an expensive plan and that it motivates people to stop working.
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