About 36 million eligible families received a check this month,Still, disparities remain. While 76 percent of White and Black families claimed the benefit, only 64 percent of Hispanic parents did. Parents with less than a high school diploma also had lower take-up rates. Just 63 percent claimed the benefit, compared with 85 percent who have at least a two-year degree.“We’re concerned because, of course, we want everybody who’s eligible for it to access these payments,” Burnside said.
Lawmakers have only approved the expanded credit through December, but Biden’s Build Back Better Act could extend the monthly payments through 2022 forparents. The Act could also make permanent a provision that allows the lowest-income families to receive the full benefit, even if they don’t pay taxes.
In September, Sen. Joe Manchin III criticized the expansion because it did not require a work component. Researchers at the University of ChicagoStory continues below advertisement Those researchers say that the program would reduce child poverty, at most, by 22 percent. Other researchers, including analysts at the Center on Budget and Policy Priorities, say the tax credit willBurnside said parents who use the monthly checks on food and rent need Congress to approve an extension.
“Those are all expenses that families are going to have to continue meeting beyond December, so it’s absolutely essential that lawmakers extend these payments into next year,” Burnside said. “Otherwise, these monthly payments will stop next month, and parents will be left without this money that they can rely on to meet those existing bills and cost of food.”
File to: No Shit Sherlock
That is the purpose of the child tax credit.
Taxes should be cut for individuals. Eliminate the need for credits and the staff/bureaucracy to deal with them.
As expected!