The forms of financial aid that Americans received during the COVID-19 pandemic all ended a while ago, but with inflation still at exceptionally high levels and affecting the bottom line on many budgets, many support the idea of more aid from the government coming back as a coping mechanism. Now, it appears President Biden has some intention of trying to bring back at least one form of aid that parents received during that time.
In his proposed budget for 2024, the President revealed he hopes to reinstate the enhanced child tax credit from the Pandemic, which, in 2021, gave parents who qualified up to $3,600 per child. According to CNBC, the President’s new proposal calls to raise the current maximum credit from $2,000 to $3,600 per child under age 6 or $3,000 per child age 6 and up and would also try and permanently make it fully refundable.
The proposal comes along with a slew of others meant to help aid families, including permanently expanding the earned income tax credit for childless workers, 12 weeks of paid family and medical leave, seven paid sick days for all workers, expanded access to affordable childcare and free preschool and expanded Medicaid home and community-based services.
The move to bring back the Expanded Child Tax Credit comes after studies found that the expanded credit, which gave parents monthly payments of up to $300 per child, helped cut poverty in half at the time. At the time, Census Date from the Senate Joint Economic Committee found that the payments helped drop food insecurity in households to 8.4% from 11%.
However, despite his hopes to pass the budget plan and provide this assistance to families, it may have a hard time getting through Congress. Biden previously announced similar planned initiatives in his Build Back Better Plan after taking office. Still, despite Democrats having a majority in both the House of Representatives and the Senate at the time, the plan fell short of making those goals a reality because it did not receive the support from Republicans crossing the aisle, or moderate Democrats like Senators Joe Manchin (D-W. Va.) and Kyrsten Sinema (D-Ariz.).
The chance of getting it through Congress now would likely be even more difficult. While Democrats still hold control of the Senate by one seat, the House now has a Republican majority, meaning that to get the 218 votes needed for a simple majority, the bill would need support not only from all 213 Democratic reps but at least 5 Republican ones as well.
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