Later today, the new stimulus aid package in the U.S. will go back to the House of Representatives for a vote. It is expected to pass, and then President Joe Biden will sign it into law. Among other provisions, this stimulus aid package includes a child tax credit that will send direct monthly payments to 93% of families with children over the course of a year — $3,600 annually per child under age 5 and $3,000 annually per older child. There are hopes that it will last more than a year, but that will require another vote at a later date.
This is going to do a great deal to reduce poverty. In fact, it is expected to cut child poverty in the U.S. nearly in half. Among African-American households, it will cut poverty by more than half. This is a big deal, and I celebrate it.
This is an attempt to resource and invest in people on the ground, rather than in those making millions and billions.
If you’d like to learn more about this and how this will impact your family, I invite you to listen to this podcast:
The Daily: A Safety Net for American Children