Biden Makes History As Child Tax Credit Will Lead To Biggest Reduction In Child Poverty Ever

On the first day that payments are going out to families, President Biden said his child tax credit would lead to the biggest one-year reduction in child poverty in history.

Biden Makes History With Child Tax Credit

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President Biden said:

This is a middle-class tax cut. When I came up — when I decided I wanted this in the legislation, I referred to it in the way that it really is it’s a middle-class tax cut. It’s just like the wealthy get tax cuts for a lot of things. It’s a tax cut for your children — having children. And this can make it possible for hard-working parents to say to his or her child, honey, we get — you can get new braces now. We can get you a tutor to help new that math class you are having trouble with. We can get you the sports gear you need to sign up for the first team you’re going to play on. 

People have written to me to tell me they use the money to buy their kids new shoes, to send them to summer camp, to cover after-school care. 

To give you a sense of how transformative this is, this will be the largest ever one year decrease in child poverty in the history of the United States of America. As we begin now. Historic reductions in child poverty among white, black, and Latinos , and AAPI communities, it’s not even close. The benefits will be felt for years.

Child Poverty Is Expected To Be Cut In Half

Getting children out of poverty not only leads to better immediate health and wellness outcomes, but it also helps children do better in school, which can result in a generational opportunity to escape poverty and change the trajectory of entire families.

President Biden and congressional Democrats are changing the lives of families and children in a way that will be felt for years and potentially generations to come.

No other president has ever cut child poverty in half in a single year, but that is exactly what Joe Biden is on track to accomplish.