Majority Leader Schumer Floor Remarks On Monthly Child Tax Credit Payments To Families Starting Today Because Democrats Passed And President Biden Signed The American Rescue Plan
Washington, D.C. – Senate Majority Leader Chuck Schumer (D-NY) today spoke on the Senate floor regarding expanded child tax credit payments to families of up to $300 per child per month starting today because Democrats passed and President Biden signed the American Rescue Plan. Every Senate Republican voted against these payments. Below are Senator Schumer’s remarks, which can also be viewed here:
Over the past twenty years, the cost of raising children in America has become ludicrously expensive. Everything from diapers to housing to health care to college tuition has risen in price, some of it rather steeply and dramatically, and wages, unfortunately, have not kept pace, putting strain, ever more strain, on American parents.
The cost of childcare alone can be roughly equivalent to buying a new car, every single year. That’s a big burden for so many families.
The pandemic, of course, made life even harder on America's families.
So in the American Rescue Plan, Democrats made sure that it included a dramatic expansion of the federal child tax credit, to give families a little extra help during the once-in-a-century crisis.
And today I’m very proud to announce that tens of millions of Americans are going to see extra money land in their bank accounts – the first of monthly checks that will be disbursed through the expanded child tax credit.
Let me say that again: because of this law passed by Senate Democrats—sadly, unfortunately not a single Republican voted for this much-needed measure that will help the middle class and the poor—a vast majority of Americans, because of what we did, we Senate Democrats did, will begin receiving a monthly check of $300 for each child under six years old. They will also receive $250 every month for each child between six and seventeen.
Combined with the credits that apply next tax season, these payments total up to $3,600 for every child under six, $3,000 for every child 6 to 17.
In short, it will amount to a substantial and potentially life-altering tax cut, tax cut, for American families.
If you’re a middle-class mom or dad, this money will help defer the cost of groceries, rent, child care, maybe diapers if you have an infant. Boy, they are expensive. I remember when my kids were little compared to today, the cost. You can spend that money on something else if you need it. And it’s going to go a long way to reducing the burdens that families face.
It also helps those kids in poverty. The expanded child tax credit will cut childhood poverty nearly in half. 4 million American children, economists expect, will be lifted. And when you’re a child born into poverty, through no fault of your own, you may not have proper nutrition and food. You may not have proper education or healthcare or housing. And by the time you’re 14 or 15 you’re in a big ditch. Now many, to their credit, climb out on their own. But this will prevent so many from falling into that ditch.
So it helps the poor, and it helps the middle class. We’re proud of that.
To all of America’s moms and dads: check your bank accounts this week. Check your bank account! You may not even know this is happening. If you filed taxes in either of the past two years, or in both of them, and you qualify for the credit, you’ll see this money automatically.
If you didn’t file taxes in either of the past two years, you can go online to irs.gov/childtaxcredit and sign up today.
Let me repeat that, folks. For you listening, go to irs.gov/childtaxcredit and sign up. It’s very simple and easy to sign up. And as long as your kids have a social security number, they can get it.
Republicans have, for
a very long time, claimed to be the party of tax cuts. But when you read the
fine print, it turns out that Republicans Party is the party of tax cuts
for the wealthy and the well-connected.
Democrats are sending this check—American Parents for the Child Tax Credit, $300 per month, courtesy of President Biden and Senate and Congressional Democrats.
Again, unfortunately, every Republican voted no. And I want to give a lot of credit to Senators Bennet of Colorado, and Senator Brown of Ohio, and Senator Booker of New Jersey, and Senator Wyden of Oregon, and so many others who fought for this issue and helped make it a reality that today is going to happen.
So we say to say to the parents of America: starting today, help, real help— significant help—is on the way. Not just for the wealthy, as the Republicans like to give it, but to the poor and the middle class.
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