Biden’s child tax credits could cut child poverty by 45% ...Middle East

Quartz - Economy
Biden’s child tax credits could cut child poverty by 45%
source : Quartz ( Middle East ) () 33
American parents are slated to receive more pandemic-related aid starting July 15th, when Joe Biden’s administration will start distributing cash to families with joint income of less than $400,000 or individual income below $200,000.The money, which is part of the stimulus package passed in March, is technically a tax credit for the 2021 tax year. But by sending out checks in advance, rather than a tax refund paid as a lump sum in 2022, the extra money should ease family finances in real-time and potentially lift millions of children above the poverty line.The expanded child tax credit’s effect on child povertyRead the rest of this story on qz.com. Become a member to get unlimited access to

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