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Last Child Tax Credit check set to go out. That could push millions of kids into poverty.
CBS News ^ | December 15, 2021 | BY AIMEE PICCHI

Posted on 12/15/2021 9:05:24 AM PST by Oldeconomybuyer

Millions of Americans have weathered the COVID-19 pandemic with the help of direct cash payments from the U.S. government, via stimulus checks, extra unemployment benefits and the expanded Child Tax Credit. But that last financial buffer may come to an end on December 15 when the IRS sends out the sixth — and potentially last — check to parents.

That would close the door on the nation's biggest federal cash-assistance programs, which began in 2020.

Experts credit those six months of direct payments with helping millions of low- and middle-income families afford basics like food, rent and car repairs, as well as child expenses like clothing and education. Without that aid, almost 10 million children may slip back into poverty, according to a recent analysis from the left-leaning Center on Budget and Policy Priorities.

"No family in America should struggle to get by," said Gaylynn Burroughs, senior policy counsel at The Leadership Conference on Civil and Human Rights. "Without the CTC, these families — many of whom are families of color — will be forced back into a position of instability."

The cash payments for families also bolstered the economy during the pandemic, providing them with money to spend on daily necessities as well as on things like outdoor furniture and home renovations that people turned to during the pandemic.

That spending has bolstered corporate earnings and jump-started economic growth.

(Excerpt) Read more at cbsnews.com ...


TOPICS: Constitution/Conservatism; Culture/Society; Government; Politics/Elections
KEYWORDS: aimeepicchi; cbsnooz; communism; gaylynnburroughs; gramsci; journalism; marxism; seebs; socialism; spending; welfare
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To: lightman

That helicopter money has dangerously distorted the economy. Most people, if they don’t HAVE to work will gladly sit at home munching Cheetos and streaming entertainment.


21 posted on 12/15/2021 9:58:14 AM PST by Gen.Blather (Wait! I said that out loud?)
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To: Oldeconomybuyer

Nonsense, these are just advanced payments of money folks with kids would get when filing taxes, either as EIC payments are credits against taxes. Its not extra money. And by the way none of my grown children with children have received a single one of the advanced payments. I suspect thats mostly the case.


22 posted on 12/15/2021 10:09:02 AM PST by QuigleyDU ( )
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To: Oldeconomybuyer

Printing money the government does not have fuels inflation.


23 posted on 12/15/2021 10:22:26 AM PST by Wuli ( a)
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To: mn-bush-man

Yeah, that will make Biden even more popular. Most expect the Child Tax Credit will cover much of their remaining tax liability. Prepaid & spent, they won’t be ready for an extra $3000 or so due within days.

Stupid & obvious enough that one might assume Democrats planned around this, either as an impetus to grant emergency credits, or to initiate breakdown of the system.


24 posted on 12/15/2021 10:29:12 AM PST by ctdonath2 (Statistics don't matter when they happen to you.)
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To: Oldeconomybuyer

The push to extend it... delusion on display.

https://www.cnbc.com/2021/12/15/child-tax-credit-payments-end-wednesday-grandmothers-push-to-extend-it.html


25 posted on 12/15/2021 10:30:20 AM PST by mn-bush-man
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To: larrytown

BFL


26 posted on 12/15/2021 10:31:40 AM PST by VTenigma (The Democrat party is the party of the mathematically challenged )
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To: MisterEd37

Today’s winning tagline! (;^)


27 posted on 12/15/2021 10:33:00 AM PST by frog in a pot (Which came first, the honest politician or the informed voter?)
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To: Oldeconomybuyer

millions of OPEN JOBS OUT THERE!!!


28 posted on 12/15/2021 10:33:17 AM PST by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
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To: Oldeconomybuyer

Replace it with a school voucher they can use at the school of their choice.


29 posted on 12/15/2021 10:34:26 AM PST by 1Old Pro (Let's make crime illegal again!)
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To: lightman

If Biden and his thugs win on this issue white parents need to sit home and have babies too.

Liberals have finally made it worthwhile for most ethnic groups to be compromised... so enjoy. Lots of new White, Hispanic, Asian and black babies coming soon.


30 posted on 12/15/2021 10:34:29 AM PST by GOPJ (We knew: soon as libeal elites had THEIR STORES looted - they would call for crime control...)
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To: Oldeconomybuyer

This was always the plan. Institute a “temporary” payment then cry “but what about the children” once it is set to expire. Then, blame the evil conservatives for wanting to starve all the children in the “minority” neighborhoods.


31 posted on 12/15/2021 10:35:43 AM PST by CFW
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To: larrytown

https://www.findagrave.com/memorial/25400862/nathaniel-grigsby


32 posted on 12/15/2021 10:37:49 AM PST by Dalberg-Acton
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To: Oldeconomybuyer

If only there was something they could do that would provide money. A place they could go daily and do something for that money. I heard in ancient times (like 2019) there were these places.


33 posted on 12/15/2021 11:10:55 AM PST by pas
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To: pas

Ramses had lots of shovel-ready jobs.


34 posted on 12/15/2021 11:30:17 AM PST by lightman (I am a binary Trinitarian. Deal with it!)
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To: Oldeconomybuyer
"No family in America should struggle to get by,"

I know several that didn't miss a day's work, and also received these 'credits' for anywhere from 3-5 kids. They bought numerous tats, new(er) cars, bling, and other non-child care related waste.

35 posted on 12/15/2021 1:49:37 PM PST by ApplegateRanch (Love me, love my guns!)
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To: Oldeconomybuyer

The payments are NOT from the government, they are from the TAXPAYERS !!!

Stop giving away OUR money !!!


36 posted on 12/15/2021 2:42:39 PM PST by Pearfect
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To: Oldeconomybuyer

Mom and Dad can get off their butts and fill all those empty jobs instead of welfare checks.


37 posted on 12/15/2021 2:44:04 PM PST by dforest (Freaking insane world. )
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