Biden’s Budget Plan Proposal Aims to Tackle Child Poverty with Expanded Child Tax Credit
Senator Bennet Supports Biden’s Plan to Boost Child Tax Credit
President Biden has proposed a $7.3 trillion budget for 2025, aiming to help families by raising taxes on the rich and big companies while reducing child care costs. One major focus is restoring the Child Tax Credit to its pandemic level. Democratic Senator Michael Bennet from Colorado supports this move, citing its effectiveness in cutting childhood poverty during the pandemic.
Bennet emphasizes that many families, despite hard work, struggle to lift their children out of poverty due to limited economic mobility. He sees the expanded Child Tax Credit as a vital step towards ending childhood poverty in the U.S. The proposal includes a more generous credit paid out monthly, offering relief to struggling families.
Biden’s Budget Plan Aims to Restore Widened Child Tax Credit Post-Pandemic (PHOTO: The New Indian Express)
Bennet Urges Biden to Lead Efforts in Expanding Child Tax Credit
Although the proposal faces challenges in passing Congress, Bennet believes it’s crucial for President Biden to champion this cause. He argues that 50 years of trickle-down economics have favored the wealthy while leaving many families behind. Bennet sees the expanded Child Tax Credit as not only combating poverty but also supporting job retention by enabling parents to afford childcare.
