President Biden’s American Rescue Plan created potentially the most impactful financial safety net for children since President Lyndon B. Johnson first declared war on poverty. Nestled within the latest pandemic relief package is a provision establishing essentially a guaranteed income of up to $300 per month for low and middle-class families with children. The provision works by expanding an existing tax credit and has the potential to lift more than four million children out of poverty. While the initial payments are only for 2021, both President Biden and some Republican colleagues have expressed interest in making this new social safety net program permanent.

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