Cory Booker Instagram – Three years ago, I was part of a group of lawmakers who pushed for and won a historic, one-year expansion of the Child Tax Credit. President Biden signed our plan into law….and it was the largest middle class tax cut of my generation.
It put up to $300 per child per month straight in the pockets of families with kids, which could be used to cover the cost of gas, groceries, childcare, and more.
It worked so well, it cut the child poverty rate in half.
But because Congress failed to act, it expired at the end of 2021. The tax cut we fought for went away, and the child poverty rate doubled.
But the Democrats, led by Senator Ron Wyden, stood our ground and demanded concessions in exchange for tax cuts Republicans wanted, and this week a deal was struck and an expanded child tax credit is on the verge of coming back, in effect for the next 3 years.
While this isn’t everything that was in place before, what we know for sure is that it will have a huge impact for families with kids and for millions of Americans, and that is progress worth fighting for. | Posted on 19/Jan/2024 18:02:47
