From the Center for American Progress (http://www.americanprogress.org):
With more than 4 in 10 American households—43%—struggling to afford basics like food, housing, health care, child care, and the cost of raising a child growing every year, it’s evident that Congress must do more to provide sufficient support to families.
A new bill will help do that. Today, Sen. Michael Bennet (D-CO), Sen. Sherrod Brown (D-OH), Rep. Rosa DeLauro (D-CT), and Rep. Suzan DelBene (D-WA) introduced the American Family Act, a bill designed to alleviate some of the financial stress that comes with raising a child. Building on an idea first proposed by CAP in a 2015 paper, the American Family Act would:
- Create a new monthly Young Child Tax Credit of $3,600 per year for children up to age five.
- Expand the existing Child Tax Credit to $3,000 per year for children ages six to eighteen and make the credit fully refundable so it reaches the poorest families and kids.
The American Family Act would dramatically reduce childhood poverty by nearly 40% and help families meet the urgent, continuous costs of raising children like diapers and formula. Republicans like to posture as the party of “family values.” If that’s true, they will vote to support this key solution to help American families.
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