Jimmy Panetta: “The child tax credit is a tax cut for working-class families. By passing the American Rescue Plan, we enhanced, and we…”

“The child tax credit is a tax cut for working-class families. By passing the American Rescue Plan, we enhanced, and we advanced this tax cut, so that if you are a parent that works or a parent that cares for children, you will get a tax cut. We enhanced this tax cut so that per year working-class families will receive up to $3,600 for each child under 6 and $3,000 for each child under 18. We advanced this tax cut so that working class families will get this benefit starting July 15. Now, in my district on the central coast of California, the tax cut will benefit over 150,000 children and lift 15,000 children out of poverty. Working-class parents from the central coast to the center of America can use this support to provide healthcare, childcare, and daycare for their kids so that those same parents can continue to work, or better yet, get right back into the workforce. Madam Speaker, the child tax credit will not only help us recover from the economic shutdowns of the pandemic, it is a tax cut that will lift parents out of poverty, reward working-class families, and really represents what we stand for as a Nation. ____________________”