On Monday, the Biden administration demonstrated the kind of positive difference a smart approach to our tax system can make.
Starting July 15, the federal government will provide expanded child tax credit payments — and do so in the form of monthly installments through the end of this year. An estimated 39 million households, home to nearly 90 percent of children in the United States, are due to receive these benefits. With 1 in 7 children living in poverty, this should cut the nation’s child poverty rate nearly in half and meaningfully addresses racial economic disparities.
The above excerpt was originally published in NBC News.
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