Posted on 01/23/2021 4:20:00 AM PST by Oldeconomybuyer
WASHINGTON - Senior Democratic lawmakers are moving to fulfill President Joe Biden's desire to expand the child tax credit by drafting legislation that would direct the Internal Revenue Service to send recurring monthly payments to tens of millions of American families, according to officials who spoke on the condition of anonymity to share knowledge of the internal discussion.
Under one draft of the plan being discussed, the IRS would be tasked with depositing checks worth $300 every month per child younger than 6, as well as $250 every month per child aged 6 to 17. That would amount to $3,600 over the course of the year for young children, as well as $3,000 a year for older children, the officials said.
Unlike the stimulus checks, the Biden administration and Democratic lawmakers are hoping to make these child benefits a permanent government program that would continue in future years.
The benefit could prove costly, increasing the federal deficit by as much as $120 billion for one year, according to estimates by the Committee for a Responsible Federal Budget, a nonpartisan group. But it could curb child poverty in the U.S. by more than 50%, researchers at Columbia University have found.
America currently spends less than almost any other developed nation on child benefits as a share of its economy. Only a handful of industrialized nations, such as Romania and Chile, rank worse than the United States on measures of child poverty kept by the Organization for Economic Co-operation and Development.
(Excerpt) Read more at sfgate.com ...
Illegal aliens and inner city blacks have lots of kids. Probably just a coincidence.
For Obama health insurance purposes a child is still a child to the age of 26, democrats. Why not for money give-aways?
Ding ding ding ding ding......anchor baby jackpot payouts all round.
Let me guess... from Biden’s stash. Why not throw in a “smart” TV for early indoctrination?
They don’t need them after last summers riots. They all got TVs.
Can I write in for Jack and Danial? I am their caretaker so should be entitled to money to support them.
No not booze. They are my chihuahuas.
Surprised they are not giving each parent a $300 off coupon for use at Planned Parenthood so each parent can eliminate their “burdens” (hat tip to Michelle Obozo)
In a few years, $300 will buy you a loaf of bread.
I’d be okay with this if it did not go to people already on public assistance.
We should hand out some of that free money to people who get sterilized.
In a way, one could make a conservative case for a universal basic income if every other government transfer payment and welfare program was eliminated. Sadly the “individual responsibility” part of the American Way of Life concept is just a fading memory.
With a voucher system for childhood education you could triple that and still save money.
Sounds like they are throwing scraps at the minority community. Each passing day we get closer and closer to an all out brawl.
I have 6 children. This is yet one more vote-buying scheme to make families and children dependent on government largesse for our existence.
If the uniparty in the Federal government is stupid enough to deposit more “stimulus” or recurrent payments into my account, I will continue to utilize it for the purchase of personal defense hardware and related supplies. And then I will vote against every one of their sorry @^#*&.
We have unlimited money. Why not give them $30,000?
How does this jive with the mandatory tax payer funded abortion which has been the primary progressive family related talking point forever.
I’m laying money on hair extensions, wigs, strip clubs, and liquor stores to do a booming business over this!
Why not give everyone $1,000,000 then they could live off the interest? Except, there would be no one to stock the grocery shelves, unless, you put a gun to their heads.
And therein lies the endpoint of socialism.
Always keep your bait fresh
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