President Biden introduced the Build Back Better in 2021 to extend the monetary benefits and other reliefs to US citizens. However, Biden is suspicious that two of the bill’s significant components might not remain. The initial bill contained an extension of child tax credit and community college tuition fees but might get eliminated as time proceeds; the bill included a five-year child tax credit program under the American Rescue Plan. The families received the first half of the payments by the end of 2021, with the remaining half due till April 2022. CNBC reports that Democrats were forced to cut down the bill’s excerpts to gain full support.
Democrats Reduced The Original Size Of The Bill
The original program was cut from $3 million to $1.75 trillion, including a one-year extension of the child tax credit. The bill also provides Medicare and education expenses to low-income families. CNBC quoted Biden; he said, “There are two huge components that I feel strongly about that I am not sure I can get in the package. One is a childcare tax credit, and the other is help for the cost of community colleges. They’re massive things that I’ve run on; I care a great deal about; I think we can break the package up, get as much as we can now, and come back and fight for the rest of it.”
Children And Low-Income Families Will Suffer A Lot
The halt in the passage of Build Back Better will impact low-income families and millions of children. The parents will have to bear education expenses which will affect their livelihood. The enhanced child tax credit had helped reduce poverty significantly. The principal opposition came from Sen. Joe Manchin, who refused to sign on the terms of the program. The bill’s approval might have been curtains for the US economy amidst the rising inflation. The government bodies will have to find a way to help the pandemic hit families and secure their financial position. The cessation of the existing benefits will mean that the families have to compromise on the essential commodities to cover education costs. The poverty rate will likely increase if the Biden administration fails to introduce Build Back Better.