Sen. Bennet: The Child Tax Credit is Changing Lives
By Senator Michael Bennet
Most Americans were struggling to get by long before the pandemic. Instead of addressing the challenges of working families, the previous administration cut taxes for corporations and the wealthy, even as income inequality was higher than any time since the Gilded Age. At the same time, more than 12 million children lived in poverty, including more than 1 million who fell into poverty due to the economic effects of the COVID-19 pandemic.
I can think of nothing more at war with who we are as Americans, and we have to act. At a minimum, we can’t continue to cut taxes for the wealthy few. We have to support America’s families.
For years, I fought alongside Sen. Sherrod Brown to expand the Child Tax Credit and Earned Income Tax Credit, two popular programs with proven long-term benefits for children and families. We got it done in the American Rescue Plan, not only delivering the biggest tax cut for families and workers in generations, but also showing the American people what’s possible when our government invests in people.
The expanded Child Tax Credit is providing a lifeline for families across the country, including for the families of 27 million kids who were too poor to receive the full Child Tax Credit before this year. Families in Colorado have told me what a difference the expanded Child Tax Credit has made in their lives — from helping cover the cost of school supplies and child care to music lessons and summer camp.
Now we have an opportunity to extend the enhanced Child Tax Credit and make those 27 million kids eligible for the entire amount — not for one or two years, but every year.
The American people are on our side. New polling from Fighting Chance for Families finds a strong majority of voters support the expanded Child Tax Credit by a +24-point margin — including Democrats by a +65-point margin, Independents by a +18-point margin, and over a third of Republicans.
On Wednesday, families will receive their December Child Tax Credit payment. If we don’t pass the Build Back Better Act soon, this could be the last payment they receive for some time. We cannot allow this disruption to happen. Congress must act.
The American people understand what should be obvious to Washington: when we invest in kids and families, all of us benefit. Let's get it done and make lasting progress against child poverty.
Michael Bennet (@SenatorBennet) is a U.S. Senator from Colorado.