Treasury Secretary Janet Yellen said Thursday in a preview of an interview that will air in full on Friday’s edition of NPR’s “Morning Edition” that the child tax credit of $250 to $300 per child every month under the Biden administration’s American Rescue Plan should be made permanent.
Yellen said, “We do want to make sure that every child that’s eligible to receive this tax credit — a very important source of support — will know about it and be able to get it.”
Host Noel King said, “Entitlements are difficult to roll back, goes one way of thinking about this. Right now, the child tax credit is a temporary program. Do you think it should become permanent?”
Yellen said, “Yes, I do. I think it’s a very important program that will do a huge amount to relieve child poverty, which has been a tremendously important problem in the United States. It’s estimated that the American Rescue Plan and, most importantly, because of this child tax credit, is going to be cutting poverty this year by 50 percent. So I think this is something that is very important to continue. I am very hopeful that Congress will decide to include a continuation of this refundable credit — that is now remarkably being paid monthly —I hope it is included in the reconciliation package.”
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