|While President Biden and Democrats are fighting to extend critical tax cuts for working parents, Republicans are prioritizing the ultra-wealthy. The child tax cut, delivered solely by Democrats, is already helping hardworking families put food on the table, get back to work, and send their children back to school.
Republican Senate Leader Mitch McConnell called the child tax cut a “monthly welfare deposit.”
HuffPost’s Igor Bobic: “McConnell refers to the child tax credit payments as a ‘monthly welfare deposit’”
What exactly was he referring to? Was it the fact that nearly a third of parents spent their tax cut to help their children go back to school?
Census: “Three in 10 families that received monthly Advance Child Tax Credit (CTC) payments spent them on kids’ school expenses, and 1 in 4 families with young children used them to cover child care costs, according to new results from the U.S. Census Bureau’s experimental Household Pulse Survey (HPS).”
At least Republicans are making their priorities clear: They’re going to bat for billionaires over hardworking American families.
HuffPost: “Republicans Go To Bat For Billionaires Targeted By Democratic Tax Plan”
HuffPost: “Democrats want to tax the richest people in America to help pay for new programs like paid leave, tax cuts for parents and health care for seniors and poor people. But the idea is running into fierce resistance from Republican lawmakers who often represent the interests of the exceedingly wealthy on Capitol Hill.”
HuffPost: “The wealthiest 400 billionaires paid an effective tax rate of just 8.2% from 2010 through 2018, according to a September analysis by economists at the White House Council of Economic Advisers and the Office of Management and Budget.”
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