U. S. News
Child tax credit payments could be cut off to 37 million children
New York – After the intent to place an income threshold of $60,000 on child tax credit payments, Senator Joe Manchin of West Virginia came under fire from progressives. During the pandemic, these payments have been crucial to sustaining families.
Families have received $300 per child under 6 and $250 per child between 6 and 17 since July.
According to the Niskanen Center, the change would mean 37.4 million children no longer benefit from the child tax credit payments.
At this time, any family that earns less than $150,000 per year is eligible for the child tax credit payments.
In the American Rescue Plan, the benefit was expanded from $2,000 to $3,600 per child. In March That was signed into law by President Joe Biden.
Half of the tax credit is being paid out in monthly checks issued by the IRS. While the other half will be claimable on 2021 tax returns.
However, progressive opposition to that has indicated the most vulnerable Americans need the funding and are often unemployed.