Biden’s Child Tax Credit, Which Cut Poverty Among Young By One-Third, Ending

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The child tax credit’s pandemic expansion, in which the Biden administration gave millions of American families a child benefit each month since July, has ended. The payments amounted to hundreds of dollars a month for most families. It kept millions of children out of poverty and injected billions of dollars into the U.S. economy. Democrats hoped to extend the program in Biden’s Build Back Better Act but that has stalled in the Senate and its fate remains uncertain. The benefit is ending as the latest surge of Covid-19 has forced more people home and led to more layoffs. Economists warn that …

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