Starting this week millions of families will be receiving monthly payments from the federal government through the new, expanded child tax credit.
Washington Correspondent Reshad Hudson explains.
“This is going to help”
Democrats like Senate Majority Leader Chuck Schumer say this year’s expanded child tax credit is the country’s largest investment in working families.
“It does great things for our economy by pumping money into it.”
For the rest of the year parents of children under the age of 6 are eligible for $300 monthly payments, or $250 for children 6 to 18.
People who don’t make enough to file taxes will still be eligible for the payments.
“This is the largest child tax credit in history.”
And Indiana Congressman Andre Carson says there are no restrictions on how to spend the money.
“This is historic. This is the largest child tax credit in history.”
Democrats say the child tax credit payments will cut child poverty in half, but republicans worry it will lead to more government spending.
Robert Rector with the conservative think tank the heritage foundation believes the program will incentivize people not the work.
“When you pay people not to work, they work less.”
Rector says work requirements should be added for anyone receiving payments.
“We can even be more generous than the existing system, but we expect you to take steps to help yourself.”
The payments expire at the end of the year, but democrats say they would like to see them renewed in 20-22.
