STATEMENT: CHILD TAX CREDITS FROM AMERICAN RESCUE PLAN DELIVER RELIEF, AMERICAN FAMILIES AWAIT ITS EXTENSION IN BUILD BACK BETTER AGENDA

FOR IMMEDIATE RELEASE 
August 13, 2021Contact:
TJ L’Heureux, Press Secretary

[email protected] or 480-414-0559

STATEMENT: CHILD TAX CREDITS FROM AMERICAN RESCUE PLAN DELIVER RELIEF, AMERICAN FAMILIES AWAIT ITS EXTENSION IN BUILD BACK BETTER AGENDA

Child Tax Credit Payments, Set to Reach Families Today, Have Been a Powerful Force in Strengthening the Economic Well-Being of American Families

Families Are Eagerly Hoping For Extension of the Child Tax Credit Through the Build Back Better Agenda

POLLING66% of Voters — including 60% of Independents — Support Passing the $3.5T Build Back Better Plan Through Reconciliation.
 

WASHINGTON, D.C.  Today, qualifying American families will receive child tax credit payments as the second of six monthly installments. The checks, as part of the American Rescue Plan, have been widely commended and are playing a huge role in lowering hunger rates for children and families.

The tax credit payments have been vital to strengthening the American economy and helping American families through recovery from the pandemic. The extension of the child tax credits through President Biden’s proposed Build Back Better agenda would continue to play an important role in cutting taxes for working families.

The payments come several days after the U.S. Senate advanced President Biden’s Build Back Better agenda through a budget blueprint, and a week after Treasury Secretary Janet Yellen gave remarks about the need to pass the Build Back Better agenda, saying it would “repair the broken foundations of our economy” and “build something fairer and stronger than what came before.”

Invest in America’s spokesperson TJ L’Heureux issued the following statement:

“The child tax credit payments from the American Rescue Plan are an overwhelming success, helping hard-working families put food on the table.

“However, these checks will dry up without passing an extension as part of the Build Back Better agenda that will accompany lower child care, health care, and caregiving costs.

“Now is the time to make sure these critical investments are there to help hard-working families afford raising their children and delivering support at this vulnerable moment.”

The investments in President Biden’s full Build Back Better agenda will create jobs, lower costs, and lower taxes for working families. 

  • The Build Back Better agenda will create millions of jobs: 
  • The Build Back Better agenda will lower taxes for middle class families: 
    • It will expand the Child Tax Credit, lowering taxes for middle class families by providing 39 million households and nearly 90% of children in the U.S. a major tax cut and cutting the child poverty rate in half.
  • The Build Back Better agenda will lower costs for working people:  
    • It will lower prescription drug costs for Americans by letting Medicare negotiate drug prices, so consumers are no longer at the whim of pharmaceutical companies.
    • It will lower child care costs — which cost parents $30-35 billion in income before the pandemic. Access to affordable child care could increase the lifetime earnings for women with children by nearly $100,000.
    • It will lower health care costs and premiums for those buying coverage through the ACA by extending the American Rescue Plan’s cost savings; adding dental, vision, and hearing coverage to Medicare; and closing the Medicaid gap for low-income Americans.
    • It will lower education costs by making two years of community college tuition-free and making universal preschool a reality.

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.