Washington [US], February 8 (ANI): Democratic leaders from the US House of Representatives will unveil legislation on Monday that would provide millions of families at least USD 3,000 per child, advancing a key provision in President Joe Biden’s USD 1.9 trillion COVID-19 relief package.
Richard Neal, Chairman of the Ways and Means Committee, who is leading the crafting of the legislation for the stimulus package, will introduce the enhanced Child Tax Credit bill, CNN reported citing a committee spokesperson.
“The pandemic is driving families deeper and deeper into poverty, and it’s devastating. We are making the Child Tax Credit more generous, more accessible, and by paying it out monthly, this money is going to be the difference in a roof over someone’s head or food on their table,” Neal said in a statement.
According to a copy of the 22-page bill obtained by CNN, the legislation would provide USD 3,600 per child under the age of six and USD 3,000 per child age six through 17 for a single year. The full benefit is available to single parents earning up to USD 75,000 annually and for couples earning up to USD 150,000. Payments would phase out after those thresholds.
Families can receive the Child Tax Credit payments on a monthly basis, which advocates say will make it easier to pay their obligations compared to getting a lump sum at tax time.
One of the big changes in the legislation is that the credit would become fully refundable for the year. Some 27 million children currently live in low-income families who receive a partial or no tax credit because they earn too little, according to the left-leaning Center on Budget and Policy Priorities.
Representatives Rosa DeLauro of Connecticut, Suzan DelBene of Washington and Ritchie Torres of New York are also set to introduce on Monday standalone legislation that would continue the expanded benefit permanently, CNN reported.
“We cannot stop here. We must use this moment to pass the American Family Act and permanently expand and improve the child tax credit. One year is not enough for the children and families battling not just the coronavirus, but poverty, too,” said DeLauro in the statement.
Biden’s relief package, which he unveiled last month, called for augmenting the Child Tax Credit for one year to help fight against poverty, according to CNN.
The US President’s proposal also includes an expansion of the Earned Income Tax Credit to more low-income workers, along with USD 1,400 stimulus checks and increased unemployment, nutrition and housing aid, among other measures. (ANI)
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