FILE PHOTO: United States President Joe Biden speaks in the Oval Office of the White House in Washington, United States on March 11, 2021. REUTERS / Tom Brenner
May 18, 2021
(Reuters) – A poverty reduction measure included in the COVID-19 relief bill passed earlier this year will deliver monthly payments to households including 88% of children in the US starting in July, government officials from Biden said Monday.
The Democrat-backed American bailout plan, signed by President Joe Biden in March in response to the coronavirus pandemic, expanded a tax credit available to most parents.
These individuals will receive up to $ 3,000 per child or $ 3,600 for each child under the age of 6 in 2021, subject to income restrictions. The benefit will reach 39 million households a month from July 15, many of them automatically and by direct payment.
This is one of several measures the government says could lift more than 5 million children out of poverty, half of the total number of US youth in the situation.
Biden has asked Congress to extend the tax credit until 2025.
Officials are trying to help the economy recover from the pandemic. However, recent signs of higher inflation have raised concerns that these costs could hurt incomes and exacerbate inequality.
(Reporting by Trevor Hunnicutt in Wilmington, Delaware; Editing by Peter Cooney)
This article originally appeared on www.oann.com