The GOP is refusing to negotiate on reviving the expanded Child Tax Credit, which cut child poverty by over 40 percent.
But even the prospect of delivering another major windfall to large companies hasn’t proved sufficiently enticing for Republicans to suspend their longstanding opposition to government anti-poverty programs.
Congressional Democrats and the Biden White House have also suggested they would accept a more limited version of the 2021 CTC boost, potentially includingand other eligibility limits — which progressives oppose. Such concessions have apparently failed to sway Republicans. Following the lapse of the expanded program in December 2021, the CTC reverted back to its previous form, which includes smaller payments and aThe Center on Budget and Policy Priorities that eliminating the phase-in and allowing the low-income families that are ineligible under current law to receive the full CTC benefit would cost roughly $12 billion a year.
By comparison, the House and Senate voted this month to increase U.S. military spending by $90 billion dollars over“This isn’t using our taxpayer dollars wisely. It’s robbing programs that we need, like the discontinued Child Tax Credit expansion that cut child poverty by half,” Lindsay Koshgarian, director of the National Priorities Project at the Institute for Policy Studies,in a recent blog post.
$12 billion: The cost of expanding the Child Tax Credit to 19 million children who had not been able to receive the full benefits.We can afford to restore the expanded child tax credit. Do it before the end of the year.
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