Child tax credit starts hitting US families' bank accounts

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The federal child tax credit has been around for years, but millions didn't qualify because they didn't owe income taxes. That restriction has been lifted, and monthly payments of up to $300 per child are now being deposited in parents' bank accounts.

Biden has held out the new monthly payments, which will average $423 per family, as the key to halving child poverty rates. But he is also setting up a broader philosophical battle about the role of government and the responsibilities of parents.

The president ultimately would like to make the payments permanent — and that makes this first round of payments a test as to whether the government can improve the lives of families. “Not only does Biden’s plan abandon incentives for marriage and requirements for work, but it will also destroy the child-support enforcement system as we know it by sending cash payments to single parents without ensuring child-support orders are established,” Rubio said in a statement Wednesday.

The child tax credit was created in 1997 to be a source of relief, yet it also became a driver of economic and racial inequality as only parents who owed the federal government taxes could qualify for its full payment.in 2020 found that about three-quarters of white and Asian children were eligible for the full credit, but only about half of Black and Hispanic children qualified.

 

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Thank you Biden and the rest of the Dems! (Zero republicants voted for it)

Reward parents for having more kids and not working 🙄

Maybe Potus is waiting for all the old people to die and free up more money for ChildTaxCredit Many old people and disabled people were the first to die of Covid... the vulnerable deserve 18% that is held back from being shorted previous 6yrs SocialSecurity SSWorks

AP, it's interesting how you find a black lady for your photo in a 'welfare or tax credit' article when it will mostly benefit white people. checkyourself

So you mean deadbeats now are getting my tax money? The picture sums it up

This is THE reason this change in the law will help lift millions of kids out of abject poverty.

Incoming single mom baby boom 🙄

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