President Biden wants larger child tax credits for parents as part of the pro family policies in his budget. But getting Congressional approval won't be easy.
The plan calls for 12 weeks paid family and medical leave, as well as seven paid sick days for all workers. It also aims to expand access to affordable childcare and free preschool. The budget also calls for expanding Medicaid home and community-based services, which would allow older and disabled individuals to stay at home, providing relief for family caregivers and home care workers.
Admittedly, the proposals — including the push to renew the expanded tax credit — may be difficult to get through Congress.With the budget, Biden is aiming to cut deficits by almost $3 trillion over 10 years.found the expanding the child tax credit for three years, creating a monthly payment option and making it permanently fully refundable would cost more than $429 billion over 10 years.
"The child tax credit just wasn't big enough to have an impact on inflation, but it was big enough to help families meet rising costs," Aurilio said.in December, more than 200 economists argued renewing the 2021 child tax credit would help low- and middle-income families cope with rising costs and help promote better economic health.
"We've been saying all along that that shouldn't happen unless Congress also provides relief to families and workers by expanding the CTC and EITC," she said.
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