Two-part story update: First from Deseret news on the following post
that follows with this story
headline:
“Monthly child tax credit
payments have stopped. Will they be back?”
Experts believe the future of the expanded child tax
credit is hard to predict
The highlights
from this update:
The monthly child tax credit payments millions of American
parents may have gotten used to over the past six months won’t be landing in
wallets this week. But since families can start filing their 2021 income tax
returns, collecting the other half of the credit as a lump sum, the realization
that the expanded child tax credit is dead may be delayed - at least for now.
As of this month, the tax credit has returned to its
pre-2021 level: $2,000 per child, with a requirement parents or guardians earn
a certain amount of income to claim it during tax-filing season.
As part of Congress’ effort to help American family finances
during the COVID-19 pandemic, the child tax credit was temporarily made
available even to families that don’t normally earn enough to qualify, with no
work requirement. They just had to file a tax return. The amount was also
increased to $3,600 a year for children under 6 and $3,000 for those 6 to 17.
Unless they opted to receive a lump sum, families received monthly payments
between July and December.
The Build
Back Better plan proposed by President Biden would extend the expanded
version of the child tax credit through at least 2022, with proponents hoping
its popularity would make it permanent.
But that bill is stalled, with Democrats unable to use their
slim single-party majority and particularly from Sen. Joe Manchin (D-WV) who objects
to (1) the cost and (2) the lack of a work requirement.
That same sentiment has been echoed by some across the aisle, including Sen. Marco Rubio (R-FL) who has pushed for the larger credit, but who doesn’t believe families should receive the credit if they don’t make enough earned income.
While critics and champions of the expanded child tax credit
debate its merits, they agree it’s hard to predict its future, both in terms of
the form that credit might take and the impact on families.
For example: Sarah Halpern-Meekin, associate professor of
human development and family studies at the University of Wisconsin-Madison
says: “I know about the CTC and families’ experience. The question now is a
political one as opposed to a policy one. Clearly, there are internal deliberations
in the Democratic Party, and especially with Joe Manchin. There’s not a lot of
public movement right now.”
This
full story continues at the above link and my earlier 2nd part of this same
subject follows from here:
Once again, how do we
spell hypocrite – simple: Grand Old
Party (GOP for short), and especially those in Congress.
Here is another excellent example and report of that fact from NEWSWEEK with this headline:
“Child Tax Credit Payouts
Biggest in GOP States, Despite No Republicans Voted for the Bill”
President Biden’s “expanded Child Tax Credit” has
benefited Republican states and is even very popular among GOP voters and a
brand new analysis underscores that despite the fact that the new law received zero
GOP support in Congess zero as in none, nada, nil, not one single vote
for approval.
Yet, those “no voters” go back home and brag as they did before
when they voted “no” collectively to kill the ACA (Obama-care) with over 70 votes
to kill it – now look how popular it is.
This child tax credit is similar and it also serves millions
of needy constituents back in many GOP states and districts.
Especially needy are low-income families with working
Moms who need help with childcare as they try to go back to work — that is to keep
working with CTC to pay for childcare.
Reuters News, using data
from the Treasury Department, found the top 10 states by average monthly
payouts in August were: Utah, Idaho, South Dakota, Alaska, Nebraska, Wyoming,
North Dakota, Iowa, Kansas, and Montana.
All of those 10 states
voted for Trump in 2020, and all but Kansas are led by Republican governors.
Reuters also found that
the policy has broad support among the public: 59% of all adults back it and that includes
41% who identified themselves Republicans.
In fact, the Child Tax
Credit was far more popular among Republicans than Biden, who in the latest
poll garnered only 11% job approval from self-identified conservatives.
And, it handedly helps
needy WV families, too, Sen. Manchin - so pay attention.
However, this CTC benefit, that was part of the $1.9
trillion American Rescue Plan,
didn't receive a single Republican vote. The legislation passed the House in a solid
party line vote, but the DEM-run Senate used the reconciliation process to
bypass the filibuster rule to pass it, and President Biden signed it into law in
March.
The expanded CTC bumped the payout from $2,000 to $3,600 for
each child aged 6 to 17, or $3,000 per child under 6 — that began being
dispersed among eligible households in July.
The IRS sent out more than $15 billion in August in the
second round of monthly payments for child tax credit. The payout went to
families that include roughly 61 million eligible children.
The July payment was predominately used by households to pay
for food, according to a Census Bureau Household Pulse Survey. The benefit was
also largely used to pay for utilities and clothing.
Note: Some Republican
lawmakers have touted the child tax credit and other aspects of the American
Rescue Plan, such as restaurant relief and health funding, even though they
rejected the legislation.
Biden mocked those promoting the bill they didn't support, holding
up a list of names guilty of the behavior during a press conference, and
saying: “Some people have no shame. But I'm happy. I'm happy they know that
it benefited their constituents. That's OK with me. But if you're going to try
to take credit for what you've done, don't get in the way of what we still need
to do.”
My 2 Cents: Biden words were never truer than those.
If DEMS never needed a
talking point for 2022, then I suggest this one: “GOP hypocrisy is disgusting.”
That ought to work just
fine – then keep pouring it on.
Maybe the GOP public will
finally wake up and see their Reps. and/or Senator for what they truly are, and
that is a professional hypocrite only looking out for themselves and not the
people back in their state and districts.
I say shame on the GOP for
their blatant hypocrisy, but mostly shame on Sen. Joe Manchin (D-WV) for his
arrogant stubborn stance on voting rights, CTC, and especially for being
against progress for needy people of which I’m sure WV has thousands and
thousands – all the while he rakes in special interest dough by the bundle.
Thanks for stopping by.
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