(WKBN) – The expanded Child Tax Credit has been delivered to families with children 17 and under since July. Some believe that is part of the reason there is a worker shortage in the U.S.
President Joe Biden wants to expand that credit through 2025, according to CBS News.
University of Chicago economist Bruce Meyer told CBS that as many as 1.5 million parents could leave the workforce due to the payments.
Senator Joe Manchin, D-West Virginia, said the expanded tax credit should include a work requirement. Right now, parents don’t need to work to receive the credits ($2,000 to $3,000 per child) or the payments that have been sent out since July and will continue through December.
According to the Wall Street Journal, the credit has existed—with bipartisan backing—since 1997, but this year’s coronavirus relief law expanded it significantly and added the monthly payment feature.