President Biden's Plan to Reinstate Boosted Child Tax Credit and Its Implications

Tuesday, 12 March 2024, 20:30

President Biden aims to restore the boosted Child Tax Credit to cut child poverty in half. Learn how the enhanced credit worked in 2021, its current status, and eligibility criteria for 2023. While the legislation for enhanced refundability is pending, understanding the existing Child Tax Credit can offer valuable benefits for families.
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President Biden's Plan to Reinstate Boosted Child Tax Credit and Its Implications

Enhanced Child Tax Credit in 2021

In 2021, the U.S. economic crisis led to a boosted Child Tax Credit under President Biden's leadership.

Key Changes:

  • Maximum Value: Raised to $3,000-$3,600
  • Refundability: Became fully refundable
  • Payment: Distributed in installments

President Biden's Focus

President Biden emphasizes restoring the Child Tax Credit during his recent address.

Current Status and Future Prospects

Though pending legislation aims to increase refundability, the existing Child Tax Credit can still offer valuable benefits for eligible families.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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