Pres. Biden and Vice Pres. Harris spoke about the 'historic day' for American families and emphasized the sea change the payments could represent for millions of American children living in poverty.
and Vice President Kamala Harris took a victory lap at the White House, speaking about the"historic day" for American families and emphasizing the sea change the payments could represent for millions of American children living in poverty.
"This has the potential to reduce child poverty in the same way that the Social Security reduced poverty for the elderly," Biden said. Biden frequently touted the payments as a"middle-class tax cut," saying it's geared toward"the folks who are struggling, or just looking for a little bit, as my dad would say, a little bit of breathing room."
Those families who qualify for the credit, which was expanded as part of Biden's $1.9 trillion American Rescue Plan, will receive monthly payments without taking any further action. Initial eligibility will be based on 2019 or 2020 tax returns, the IRS has said.
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