Biden and Democrats Present New Stimulus Bill

Democrats Present Significant Change to Child Tax Credit

Anthony Bracha, Journalist

Photo Courtesy of: CNN

Last Tuesday, President Joe Biden and the Democrats of the House presented a new stimulus plan to battle the effect of COVID called the American Rescue Plan. Within this plan, there would be new stimulus checks, an increase to unemployment, and nutrition and housing aid, among other measures. But, the largest change will be to the existing Child Tax Credit. The plan would start in July.

The Child Tax Credit previously gave families below the poverty line a one time payment of $2000, for each child between the ages of six and seventeen, and $2500, for each child under the age of six. The increase to the Child Tax Credit would increase both payouts by $1000 and instead of a one-time payment, the money would come monthly. So, they would still get the $3000 but over the course of a year and not all at once.

“I’m glad that these families can get the support that they need, but I think that these families need this money sooner than July,” said senior Franklin Dela Rosa.

All told, the American Rescue Plan would lift 12 million Americans out of poverty and cut child poverty in half. That’s 5 million children lifted out of poverty.”

— President Joe Biden

The main criticism of this deal is that the support would come in July. This would be the first financial support that the American people would be getting since the $600 stimulus checks last April. The stimulus checks that U.S. citizens would be getting this time would be $1400 although the Democrats have said that that amount could change.

“If you look at it from the perspective of someone who needs this stimulus money, it doesn’t seem like it is enough to support people. Since the total amount that the two stimulus checks will have given us between last March and this July would be only $12o per month, I don’t think that it is enough,” said Dela Rosa.

The White House has warned that this plan may take a while to pass as they are beginning to face Republican objections. Though they have said that they are prepared to be more lenient in the negotiations so that they can get this plan out as fast as possible.

President Joe Biden has said, “All told, the American Rescue Plan would lift 12 million Americans out of poverty and cut child poverty in half. That’s 5 million children lifted out of poverty.” President Biden has also said that he hopes to achieve this by the end of 2021.

“I think that 12 million is a good start, but considering how long we’ve been in this pandemic, and how much damage it has caused, we need to get that number much higher soon,” said Dela Rosa.