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Home Uncategorized

The Policy Debate at the Heart of the Biden-Manchin Standoff

by Nick Erickson
December 22, 2021
in Uncategorized
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The Policy Debate at the Heart of the Biden-Manchin Standoff
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During the 90-minute conversation, Senator Chuck Schumer of New York, the Majority Leader, told Democrats that he plans to continue voting next year, saying, “We won’t stop there.” until we pass a bill,” an official said.

Congress expanded the scope of the child tax credit through the end of the year as part of the $1.9 trillion pandemic relief bill, which Congress passed with only Democratic votes, including Mr. Manchin’s. Democrats hope to expand it and eventually make it permanent.

First instituted in the late 1990s, the credit was increased to cover more families and restructured to allow for outright monthly payments of up to $250 per child or $300 for a child under 6 this year. must provide proof of income or pay federal income tax to receive payment.

Of the country’s 74 million children, nearly nine in 10 were eligible, and greater opportunities for lower-income families significantly reduced child poverty.

In an October report from the Census Bureau that tracked how about 300,000 recipients spent their first three payments this summer, researchers found that about half of families spent some of the money on food. Other families said they used the money to pay for their rent, mortgage, utilities, childcare and school costs.

According to the version of the domestic policy bill passed by the House of Representatives, the program would be extended for another year. Without an extension of the extended programme, the volume of credits will fall substantially, especially for low-income households. And it will be paid in a once-a-year lump sum associated with filing a tax return rather than half of it paid out monthly.

While Democrats applauded the payments coming into their voters’ bank accounts this year, Mr Manchin opposed the cost of the one-year extension, arguing it was misleading given that there were ambitions to make it permanent. making, a step that would take about a year. additional $1.5 trillion over a decade, according to the Congressional Budget Office.

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