U.S. President Joe Biden pumps his fist as he arrives with Senate Majority Leader Chuck Schumer (D-NY) to attend a lunch with the Senate Democratic Caucus at the U.S. Capitol in Washington, U.S., July 14, 2021. REUTERS/Jonathan Ernst
Last updated on July 18th, 2023 at 01:34 pm
A senior Democratic aide said that Senate Democrats have agreed to the largest tax cut for working families in US history.
Per the aide, who provided the information to PoliticusUSA:
This Thursday, families across the country will see the first payments from the Child Tax Credit expansion enacted in the American Rescue Plan – $3,600/year for kids under 6 and $3,000/year for kids over 6.
The proposed FY2022 Budget Resolution framework would extend the ARP’s expansions of the Child Tax Credit, Earned Income Tax Credit, and Child and Dependent Care Tax Credits.
Unlike the Trump tax cuts for wealthy and corporations, these tax cuts will go straight into the households of American families. They will help millions of Americans pay their bills and lift children out of poverty.
The scope of the human infrastructure reconciliation bill is sweeping. Senate Democrats have a preliminary agreement on almost all of the key features of President Biden‘s agenda. Each of the proposals in the reconciliation agreement has one thing in common. They will make the lives of people better.
Republicans are terrified of this infrastructure reconciliation bill because it contains a number of proposals that will force them to run against new policies that are certain to be popular with the American people. Republicans are going to have to run against tax cuts for families, pre-K, paid family and medical leave and expanding Medicare.
President Biden and the Democrats are bringing about transformative change, and after infrastructure, the next item on the agenda must be voting rights.
After improving the lives of Americans, Democrats must protect our democracy.
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