Joe Biden on Thursday delivered remarks on his child tax credit extension that began this week.
The Treasury Department on Thursday began sending monthly child tax payments to about 35 million families totaling approximately $15 billion.
The child tax credit payments are funded the by the $1.9 trillion Covid relief bill signed into law earlier this year.
Joe Biden said for each $1 the government spends on the credit, it creates $8 in growth.
Biden on the expanded child tax credit: Will “be the largest ever one-year decrease in child poverty in the history of the United States of America.”
Claims each $1 spent on the credit creates $8 in growth pic.twitter.com/6FTi2QCDIS
— Tom Elliott (@tomselliott) July 15, 2021