The expansion of the CTC, included in President Biden’s American Rescue Plan, is one of the largest-ever single-year tax cuts for families with children. It dramatically increased the value of the CTC from $2,000 per child to up to $3,600 per child under age 6 and $3,000 per child between age 6 and 17, putting money in the pockets of low- and middle-income families to pay for household expenses like food, rent, utilities and child care.
The Build Back Better Act will reduce costs and cut taxes for working families, make critical investments to grow the economy, promote shared prosperity and increase revenue by asking the wealthiest Americans and the most profitable corporations to pay their fair share. Passing the fully paid-for Build Back Better Act, in addition to the recently enacted bipartisan Infrastructure Investment and Jobs Act, will support sustained economic growth, increase productivity, create jobs and reduce long-term inflationary pressure.
Dec 10 2021
Initial Unemployment Insurance Claims Are Down More Than 74% Since President Biden Took Office
Dec 10 2021
Economic Update - December 10, 2021
Dec 06 2021
Inaction On Climate Change Will Have Devastating Consequences For The Economy, Families, And Communities
Failure to address climate change will prove catastrophic. The economic and social costs are enormous. Climate change will increase the frequency and impact of natural disasters such as hurricanes and floods, and increase the likelihood of unbearable heat and droughts. From an economic point of view, a hotter planet will make workers and agricultural land less productive, slowing economic growth and lowering living standards over time. All Americans will bear the costs of climate change, and the small fraction of the global population that has not yet been affected shrinks every day. Unchecked, these costs—which disproportionately impact marginalized communities—will continue to compound, harming working families through reduced wages, property loss, and worse health outcomes.
