Senator Michael Bennet and fellow Democrats are advocating to expand the Child Tax Credit (CTC) program to address rising child poverty rates in the United States.
The move comes as millions of American families continue to grapple with economic uncertainty exacerbated by the COVID-19 pandemic.
Enhanced Child Tax Credit
The Child Tax Credit Expansion, a key component of President Biden’s American Rescue Plan, has already had a significant impact since its initial implementation. The program provides eligible families with direct financial assistance to help cover the costs of raising children.
Senator Bennet, who has been a vocal advocate for CTC expansion, highlighted the urgent need to address child poverty rates that have been on the rise in recent years. He stated, “No child in the wealthiest country on Earth should go to bed hungry or without a roof over their head. The Child Tax Credit Expansion is a lifeline for struggling families, offering them the support they need to provide for their children.”
The expanded CTC program increased the credit amount to $3,000 per child aged 6 to 17 and $3,600 per child under 6, making it more substantial and accessible for low and middle-income families.
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Advocating for the Extension of the CTC Program
Additionally, it made the credit fully refundable, ensuring that even families with little or no income can benefit from it. Recent data has shown that the expanded CTC program has already had a significant impact, with millions of families receiving monthly payments that have helped alleviate financial stress.
However, the program is set to expire at the end of the year, prompting Senator Bennet and his colleagues to advocate for its extension.
Child poverty rates in the United States remain a pressing issue, with nearly 14 million children living below the poverty line.
The CTC expansion has the potential to make a substantial dent in these alarming statistics, providing essential support to families and ensuring that children have the resources they need to thrive.
While the fate of the Child Tax Credit Expansion remains uncertain, Senator Bennet and his Democratic colleagues are determined to prioritize the well-being of America’s children by addressing soaring child poverty rates and extending this crucial lifeline to struggling families.
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