A new child tax credit expansion could provide monthly income. Some question whether the help is too much or too little

Halfpoint Images | Moment | Getty Images

A Democratic proposal to expand the child tax credit for one year could give qualifying families up to $300 per child per month.

But like all direct payments made by the government as part of Covid relief, some are questioning whether the aid will be too much or too little.

One of the strongest objections to the Democrats’ proposal came from Sen. Marco Rubio, R-Fla., who wrote in an op-ed this week that it is “not a pro-family policy, no matter how much Democrats will claim it to be.”

The child tax credit expansion is aimed at reducing child poverty. Research has indicated President Joe Biden’s plan could help cut today’s rate in half, particularly for minority families.

More from Personal Finance:
Unemployment benefits: What Democrats want in a stimulus package
Meet the student loan borrowers refusing to pay their debts
Obamacare exchanges reopen Monday. How to get a low-cost plan

Still, others like Rubio are skeptical.

“If pulling families out of poverty were as simple as handing moms and dads a check, we would have solved poverty a long time ago,” Rubio wrote.

As with other direct payments, such as stimulus checks, the debate on how the child tax credit is structured has focused on whether those who are hurting the most financially will truly benefit.

Some experts say the Democratic plan could also enrich those at the top of the qualifying income thresholds.

How Democrats’ child tax credit would work

Why lower income households would benefit

Source link

Leave a Reply

Your email address will not be published.

%d bloggers like this: