Expanded Child Tax Credit: A Chance To Slash Poverty?
  • 3 years ago
Progressives on the left are hailing the expanded child tax credit, passed as part of the most recent Stimulus Bill as a hugely significant step when it comes to cutting child poverty. Conservatives say however, that it's not so clear cut and some of the metrics may be skewed. We dive into the debate with Greg Nasif, Chief Spokesperson at Humanity forward and Matt Klink, GOP Strategist, parents in Ohio also have their say on the policy. **************XXXXXXscript ***************XXXXXX THE PASSAGE OF THE STIMULUS BILL MEANS MILLIONS OF AMERICANS ARE GETTING $1400 CHECKS IN THE BANK... BUT ANOTHER FORM OF RELIEF IS ALSO ON THE WAY... TARGETING *FAMILIES*... WITH THE EXPANSION OF THE CHILD TAX CREDIT... GREG NASIF Chief Spokesperson for Humanity Forward 25:39, this is going to begin a fundamental shift in the and the economic well being of young people in this country. 25:50 IN 2019 PARENTS COULD CLAIM $2000 FOR EACH DEPENDENT ON THEIR TAX RETURN ... NOW THAT NUMBER JUMPS TO $3600 FOR KIDS UNDER SIX... AND $3000 FOR UNDER 17... FOR MANY PARENTS WE SPOKE TO... THAT'S A POSITIVE CHANGE... Sot Paul Neal , Dayton Ohio Resident It definitely helps me out as a single parent.You know, having that extra cash, even though I mean, I work 40 hours a week, and I mean so that extra money helps. 00:48 AND IN CONTRAST TO WAITING FOR A LUMP SUM TAX RETURN... FAMILIES INSTEAD COULD SEE PERIODIC, EVEN MONTHLY PAYMENTS BEGINNING THIS SUMMER... LOW-INCOME ADVOCATES SAY THIS WILL DRASTICALLY HELP FAMILIES IN POVERTY... GREG NASIF Chief Spokesperson for Humanity Forward This is something that's going to Cover costs of education of medical care. Dentists, uh, the Children will be eating healthier. We're going to cut child poverty in half. CONSERVATIVES HOWEVER ARE SKEPTICAL ABOUT THOSE ESTIMATES... Matt KLINK 26:11 The simple reality is that America has spent trillions of dollars in its war on poverty, and the inequality in the system is greater than it ever has. CONSERVATIVE ECONOMIC THINK TANK AMERICAN ENTERPRISE INSTITUTE SAYS ONE ISSUE IS THESE PROJECTIONS ONLY USE AN OFFICIAL POVERTY MEASURE... WHICH DISCOUNTS MANY GOVERNMENT PAYMENTS ALREADY IN PLACE SUCH AS FOOD STAMPS... SOT Matt Klink 26:59 So there is a rush right now, to throw money at anybody and everybody. 27:05 The problem is going to be that the bill is going to come due 27:08 THE EXPANDED TAX CREDIT IS SLATED TO END AT THE END OF THE YEAR... BUT THE BIDEN ADMINISTRATION SAYS THEY HOPE TO MAKE IT PERMANENT...
Recommended