If passed in its current form, qualifying families with children would receive about $3000 per child from the United States Government for this year.
Advertisement
If the tax credits (a plan proposed during the 2020 campaign by Colorado Senator Michael Bennet,) along with other stimulus measures like food stamp expansion and an increase in the federal wage, are made permanent in subsequent legislation, the effect would be to reduce the overall poverty rate and cut the child impoverished rate by at least a half.
If enacted, this would be a tremendous advance in social justice and propel middle-class growth in this country.