{"id":12801,"date":"2024-02-02T19:58:36","date_gmt":"2024-02-02T19:58:36","guid":{"rendered":"http:\/\/lonecandle.com\/?p=12801"},"modified":"2024-02-02T19:58:36","modified_gmt":"2024-02-02T19:58:36","slug":"how-congress-is-planning-to-lift-400000-kids-out-of-poverty","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=12801","title":{"rendered":"How Congress is planning to lift 400,000 kids out of poverty"},"content":{"rendered":"\n<p>\n\n&#8220;Putting all the provisions together, the&nbsp;<a href=\"https:\/\/www.cbpp.org\/research\/federal-tax\/about-16-million-children-in-low-income-families-would-gain-in-first-year-of-0\" target=\"_blank\" rel=\"noreferrer noopener\">Center on Budget and Policy Priorities<\/a>&nbsp;estimates that the deal will lift about 400,000 children out of poverty, and make another 3 million less poor, in its first year. By 2025, it will be keeping 500,000 children a year out of poverty. The&nbsp;<a href=\"https:\/\/www.taxpolicycenter.org\/model-estimates\/tax-relief-american-families-and-workers-act-2024-jan-2024\/t24-0001-major-child-tax\" target=\"_blank\" rel=\"noreferrer noopener\">Tax Policy Center<\/a>&nbsp;finds that the bulk of the tax cut will go to families earning $20,000 to $40,000 a year, with&nbsp;<a href=\"https:\/\/www.taxpolicycenter.org\/taxvox\/bipartisan-ctc-framework-would-help-lowest-income-quintiles\" target=\"_blank\" rel=\"noreferrer noopener\">most families in the bottom fifth<\/a>&nbsp;of the income scale getting a tax cut. Because of the business tax cuts, the total package winds up concentrating its benefits at the bottom and at the very top of the income scale.<br>While nothing to sneeze at, this is a far cry from the&nbsp;<a href=\"https:\/\/www.cbpp.org\/press\/statements\/record-rise-in-poverty-highlights-importance-of-child-tax-credit-health-coverage#:~:text=Renewing%20this%202021%20credit%20would,calculate%20using%20data%20Census%20released\" target=\"_blank\" rel=\"noreferrer noopener\">roughly 3 million children that would been lifted out of poverty<\/a>&nbsp;in 2022 if the 2021 expansion of the credit had been extended. It is a dramatically more modest step. It also takes as a given that the credit will not be available to families with zero earnings, a key disagreement between Democratic and Republican legislators on which the latter have shown no flexibility.&#8221;&nbsp;&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.vox.com\/future-perfect\/2024\/1\/16\/24035922\/child-tax-credit-wyden-smith-deal\">https:\/\/www.vox.com\/future-perfect\/2024\/1\/16\/24035922\/child-tax-credit-wyden-smith-deal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Putting all the provisions together, the Center on Budget and Policy Priorities estimates that the deal will lift about 400,000 children out of poverty, and make another 3 million less poor, in its first year. By 2025, it will be keeping 500,000 children a year out of poverty. The Tax Policy Center finds that the bulk of the tax cut will go to families earning $20,000 to $40,000 a year, with most families in the bottom fifth of the income scale getting a tax cut. Because of the business tax cuts, the total package winds up concentrating its benefits at the bottom and at the very top of the income scale.<\/p>\n<p>While nothing to sneeze at, this is a far cry from the roughly 3 million children that would been lifted out of poverty in 2022 if the 2021 expansion of the credit had been extended. It is a dramatically more modest step. It also takes as a given that the credit will not be available to families with zero earnings, a key disagreement between Democratic and Republican legislators on which the latter have shown no flexibility.&#8221;  <\/p>\n<p>https:\/\/www.vox.com\/future-perfect\/2024\/1\/16\/24035922\/child-tax-credit-wyden-smith-deal<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[166,1236,169,542,1383,906,707],"class_list":["post-12801","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-child-poverty","tag-child-tax-credit","tag-children","tag-congress","tag-house-of-representatives","tag-legislation","tag-poverty"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/12801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12801"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/12801\/revisions"}],"predecessor-version":[{"id":12802,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/12801\/revisions\/12802"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}