President Biden's Plan to Reinstate Boosted Child Tax Credit and Its Implications
Tuesday, 12 March 2024, 20:30
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.