The expanded child tax credit payments may last for one more year instead of five in the Democrats’ new proposed spending plan, reports CNBC.
Thousands of Americans have received monthly checks since July 2021 following passage of the American Rescue Plan. But policymakers are now deciding the future of the payments as part of the proposed reconciliation package, with some suggesting extending the benefit for just one year. Previously, the Biden administration proposed extending the enhanced credit through 2025.
Natalie Foster, co-founder and co-chair of the Economic Security Project, told CNBC the checks should stick because they are working.
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