The current Child Tax Credit provides up to $2,000 per child under the age of 17….reports Asian Lite News
As part of US President Joe Biden’s $1.9 trillion Covid-19 relief package, Democrats will on Monday unveil a $3,000 child benefit legislation, according to a media report.
In a statement to CNN on Sunday, Chairman of the Ways and Means Committee Richard Neal said: “The pandemic is driving families deeper and deeper into poverty, and it’s devastating. We are making the Child Tax Credit (bill) more generous, more accessible, and by paying it out monthly, this money is going to be the difference in a roof over someone’s head or food on their table.”
A copy of the 22-page legislation obtained CNN revealed that would provide $3,600 per child under the age of six and $3,000 per child age six through 17 for a single year.
The full benefit is available to single parents earning up to $75,000 annually and for couples earning up to $150,000.
Payments would phase out after those thresholds and families can receive the Child Tax Credit payments on a monthly basis.
The current Child Tax Credit provides up to $2,000 per child under the age of 17.
The bill will be introduced by Representatives Rosa DeLauro (Connecticut), Suzan DelBene (Washington) and Ritchie Torres (New York).
“We cannot stop here. We must use this moment to pass the American Family Act and permanently expand and improve the child tax credit. One year is not enough for the children and families battling not just the coronavirus, but poverty, too,” DeLauro said in a statement to CNN.