Democrats Look to Extend Child Tax Credit Program Through 2025

Congressional Democrats are looking to extend child tax credit payments through 2025 before the program expires at the end of the year. Joe Brusuelas, chief economist at RSM US, joined Cheddar to talk about the impact of the child tax credit program and its benefits to the economy. He noted that the program is estimated to provide an economic boost of $35 billion through 2021. “The federal government estimated that this program alone, just this simple innovation on a program that’s existed since 1997, would bring the poverty rate from 13 percent to 7 percent. That’s a very interesting achievement in a very difficult time,” he said.
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