More than 30 million American families have received their first monthly child tax credit payment from the U.S. government in an expanded income-support program that President Joe Biden said on Thursday could help end child poverty.
At the White House on Thursday, President Biden praised the tax credit as a “transformative” achievement and asked Congress to extend the payments in upcoming legislation.
“It’s a reflection of our belief that the people of this country who need a tax cut aren’t the folks at the top — they’ve gotten plenty of tax cuts, they’re doing fine — but it’s the people in the middle, the folks who are struggling or who are just looking for a little bit of, as my dad would say, a little breathing room,” the President said.
Families are receiving monthly payments of $250 or $300 per child.
President Biden has suggested raising taxes on the wealthy and corporations to extend the child tax credit.
“To the people who say we can’t afford to give the middle class a break, I say we can afford it by making people at the top and the big corporations… to finally just start paying their fair share,” President Biden said. “People who are working hard and paying taxes deserve a break.”
The Democratic National Committee, Democratic Senatorial Campaign Committee, and Democratic Congressional Campaign Committee have launched a digital advertising campaign to document the impact that the tax credit has on families across the nation and how it will diminish poverty.
“Thanks to President Biden and Democrats, 39 million households will start receiving monthly tax cuts on Thursday, helping middle-class families pay rent, put food on the table, and save for the future,” Jaime Harrison, Chair of the Democratic National Committee (DNC), said.
“To quote our dear friend, former senator, and current president Joe Biden, this is a big effing deal,” Senate Majority Leader Chuck Schumer said.