President Joe Biden said Thursday that the monthly child tax credits that Americans began receiving this week will be among his administration's proudest accomplishments, touting the payments as a game changer for middle-class and working-class families.
“It's historic and it's our effort to make another giant step towards ending child poverty in America,” Biden said Thursday. “I think this will be one of the things the vice president and I will be most proud of when our terms are up.”
In one of the largest tax cuts for families with children in recent history, the plan will cover around 39 million households, or 88 percent of the nation’s children, according to the White House.
Joint tax filers that make less than $150,000 a year and single heads of households who make less than $112,500 a year can expect payments on the 15th of every month through the end of the year, with a related tax break on next year’s returns. Guardians will get $300 a month for every child under 6 and $250 for every child age 6 to 17.
The new credits, Biden said, will include families that did not receive their full intended benefits from the American Rescue Plan that the president signed last March.
Vice President Kamala Harris said while the payments may be monthly, their impact could be generational.
“Indeed, it is the largest middle-class tax cut in generations and will lift up half of our nation's children who are living in poverty, out of poverty,” Harris said. “In lifting up those children, and in lifting up the American family, it will lift up our entire nation.”
Biden and Harris delivered their remarks Thursday at the White House to an audience of nine families that the administration said would benefit from the child tax credits whose distribution began this week. Biden, after stepping to the microphone, conceded that his remarks might not capture the attention of the children in the crowd.
“Well for you, anybody under the age of 13, this has got to be boring, boring, boring for you, right?” Biden said. “Well I'll tell you what, we ought to work something out here so that when this is over, your parents, your uncles, your aunts, whoever you're with, they owe you some ice cream or something for this.”
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