President-elect Bidenâs COVID plan includes tax cuts for parents WAVE file photo of $100 bills (Source: Giorgio Trovato) By Matt Houston | January 18, 2021 at 6:28 PM CST - Updated January 18 at 9:23 PM
BATON ROUGE, La. (WAFB) - President-elect Joe Bidenâs $1.9 trillion coronavirus aid package includes billions in temporary tax cuts for working parents that could cut child poverty by as much as 40 percent, experts say.
Though itâs not been drafted into a bill and the details are not final, Bidenâs proposal aims to extend the Child Tax credit to most parents. Under current law, some 27 million American parents do not make enough money to capture the creditâs benefit.