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Key Piece Of Biden’s $1.8T Families Plan Expires After 2025

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In this April 28, 2021, photo, President Joe Biden speaks to a joint session of Congress in the House Chamber at the U.S. Capitol in Washington. Biden couldn’t get everything he wanted into his own $1.8 trillion families plan. His proposed child tax credit is set to expire after 2025. It would provide parents with $300 a month for each child under 6 and $250 a month for older children. (AP Photo/Andrew Harnik, Pool)

(AP) — President Joe Biden couldn’t get everything he wanted into his own $1.8 trillion families plan. His proposed child tax credit is set to expire after 2025. It would provide parents with $300 a month for each child under 6 and $250 a month for older children.

Democratic lawmakers are pushing hard to make the credit a permanent policy, but the administration said the annual costs were too high. Biden is embracing a dramatic shift from four decades of politics in which presidents focused more on containing government than expanding it. But the resistance to making the child tax credit permanent is a sign that there are some limits.

 

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