Harris and Vance Propose Expanding Child Tax Credit in 2024 Election to Support Families
Research Shows Expanded Child Tax Credit Reduced Child Poverty and Food Insecurity During COVID-19
According to ABC News, as the 2024 election gets closer, both Democrats and Republicans are sharing ideas to help families with money issues. Vice President Kamala Harris, who is running for president, wants to expand the Child Tax Credit. She plans to give up to $6,000 in tax credits to middle- and low-income families in their child’s first year. If she wins, she also plans to increase the Child Tax Credit to $3,000 for all children and $3,600 for younger kids, which could cost $1.1 trillion over 10 years.
On the Republican side, vice presidential candidate JD Vance suggested raising the Child Tax Credit to $5,000. This idea fits with current talks about how financial help can support families. Past research shows that programs like the expanded Child Tax Credit during COVID-19 helped lower child poverty and food insecurity, showing how important these types of support can be.
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$6,000 to $5,000: Presidential Candidates Propose Sweeping Child Tax Credit Expansions to Combat Financial Burdens (PHOTO: VIBES Noticias – OkDiario)
Bridge Project in New York Highlights Positive Impact of Monthly Financial Support for Low-Income New Mothers
Programs like The Bridge Project in New York also show the good effects of direct financial help. This project gives new mothers in low-income areas a set amount of money each month, which helps them save more, find better housing, and have more food security. These discussions are focused on finding the best ways to help American families, especially those with young children.
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