Biden's plan could cut child poverty in half in 2021

[babylonsister]

https://www.dailykos.com/stories/2021/1/16/2009539/-Researchers-Biden-s-economic-relief-plan-could-cut-child-poverty-in-half

Biden's plan could cut child poverty in half in 2021
Joan McCarter for Daily Kos
Daily Kos Staff
Saturday January 16, 2021 · 10:00 AM EST


Scholars at Columbia University's Center on Poverty and Social Policy did a quick analysis of President-elect Joe Biden's $1.9 trillion economic relief plan, and are enthusiastic, saying the proposal "has the potential to cut child poverty in half."

"We find that a relief package containing enhanced Supplemental Nutrition Assistance Program (SNAP) benefits, unemployment benefits, family tax credits, and direct cash payments could cut child poverty in half in 2021," the researchers write. That would mean an estimated 5 million children would rise above the poverty line. The analysts point to these elements of Biden's package as alleviating poverty for families with children:

Extension of SNAP benefit increases through the end of 2021
One-time direct payment at a value of $1,400 per eligible adult and child recipient
Extension of current unemployment insurance expansions through September 30, 2021
(with a $400 per week national supplement)
A fully refundable Child Tax Credit valued at $3,000 (ages 6-17) and $3,600 (under 6)
An expanded Earned Income Tax Credit for workers without children

They add that the additional measures included in Biden's proposal—"an increased minimum wage, child care assistance, rental assistance, and more"—would also reduce poverty for families with children, but only had information available to evaluate the emergency assistance measures above. The tax credit expansion is big for young families, up from $2,000 per child under age 17 currently. Biden wants to make that tax credit fully refundable.

“In the world of people who care about low-income children, this is really big news,” Elaine Maag, principal research associate at the Urban-Brookings Tax Policy Center, told CNBC after the Biden team released his plan Thursday. The National Association of Counties is extremely enthusiastic. "County governments play a critical role in combatting child poverty, partnering with state and federal governments to administer social safety net services and using local dollars to support innovative programs that help children thrive and promote intergenerational economic mobility," they write. They've called on the federal government to cut child poverty in half in 10 years, so the accelerated timeline of Biden's plan—if elements could be made permanent post-pandemic—would be huge.

[Freethinker65]

1. This assumes parents choose to use the funds wisely and for their kids.

Perhaps include a bond that grows in value (matures) with the child that can be used for extracurriculars when in school and/or for college, vocational expenses, etc. Expanding access to before and after school programs and school provided meals would also be sure to benefit the kids.