Expert believes Child Tax Credit will help lift many families out of poverty

Days after the U.S. Senate released a $3.5 Billion budget blueprint, President Joe Biden announced a new program that is geared towards expanding tax credit for families.

"I think this is one of the things that the Vice President [Kamala Harris] and I will be most proud of when our terms are up," said President Biden.

Related: Child Tax Credit 2021: Here's who will receive monthly payments

The tax credit increase is going to impact more than a million children in Arizona, and one expert says the measure could help get them and their families out of poverty.

The monthly benefits for those with children under six will be raised to $300 per month, and those with older children will receive $250 per month. Nationwide, about $15 billion were sent to families, including about 60 million children.

Ilana Lowery, Director of Common Sense, says 1.5 million children will benefit from this extended credit.

"We want to make sure the families can be lifted out of poverty, and this is one way to do that," said Lowery.

Lowery says she has met with many of the families relieved by this credit, and has seen firsthand the good that it will do.

"That’s childcare. That is a water bill every month. That is an electric bill, so there is a lot that can be done with that money," said Lowery.

Republicans argue that more direct payments will discourage parents from working. Lowery says she believes if anything, more parents will be able to go back to work now that they can use that money to help pay for childcare.

Those benefits are set to expire in December, unless lawmakers decide to further extend the benefits, or them permanent.

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