Page 2 - aruba-today-20220115
P. 2

A2   UP FRONT
                 Saturday 15 January 2022
            Goodbye 'godsend': Expiration of child tax credits hits home




            Continued from Front         the following year.          ceiving  the  payment,  out  administration  would  cut  do better in school, they're
                                         West  Virginia  families  inter-  of  concern  that  automat-  child poverty by 40%.   more  likely  to  graduate
            But  Democratic  Sen.  Joe  viewed  by  The  Associated  ic  government  aid  could  The  tax  credits  did  not  from  high  school.  It  might
            Manchin,    from   Roberts'  Press highlighted how their  cause  people  to  quit  their  cause  an  immediate  exo-  be 15 years down the road
            home state of West Virgin-   grocery  and  gasoline  bills  jobs. Yet his primary objec-  dus  from  the  workforce,  but there will be more cost
            ia,  objected  to  extending  have  risen  and  said  they'll  tion, in a written statement  as  some  lawmakers  had  savings in the future."
            the  credit  out  of  concern  need to get by with less of  last  month,  sidestepped  feared.  The  Bureau  of  La-  One of the key questions for
            that  the  money  would  a  financial  cushion  than  a  that  issue  as  he  expressed  bor  Statistics  reported  that  policymakers is whether bu-
            discourage  people  from  few months ago.                 concerns  about  inflation  the percentage of people  reaucracies or parents are
            working  and  that  any  ad-  "You're  going  to  have  to  and that a one-year exten-  with  jobs  increased  from  better  at  spending  money
            ditional  federal  spending  learn  to  adapt,"  said  Rob-  sion masked the true costs  58%  the  month  before  the  on  children.  Manchin  has
            would fuel inflation that has  erts, who worked as an auto  of  a  tax  credit  that  could  monthly  payments  began  proposed  a  10-year,  fund-
            already climbed to a near-   dealer  for  five  decades.  become permanent.            to  59.5%  last  month.  That  ed  version  of  Biden's  eco-
            ly 40-year high.             "You never really dreamed  "My      Democratic      col-  same  trend  occurred  in  nomic proposal that would
            According  to  IRS  data,  that everything would all of  leagues in Washington are  West  Virginia,  where  the  scrap  the  child  tax  credits
            305,000  West  Virginia  chil-  a sudden explode. You go  determined to dramatical-    employment-population  focus  and  instead  finance
            dren benefited from the ex-  down and get a package  ly reshape our society in a  ratio  rose  to  the  pre-pan-    programs such as universal
            panded credit last month.    of hamburger and it's $7-8  way that leaves our coun-     demic level of 52.9%.        pre-kindergarten,  to  avoid
            Manchin's opposition in the  a pound."                    try  even  more  vulnerable  There's  an  academic  de-   sending  money  directly  to
            evenly split Senate derailed  By  the  Biden  administra-  to  the  threats  we  face,"  bate  over  whether  the  families.
            Biden's   social   spending  tion's  math,  the  expand-  Manchin  said.  He  added  credit  could  suppress  em-     "It's  a  moral  question  of
            package  and  caused  the  ed  child  tax  credit  and  its  that he was worried about  ployment in the long term,  do  you  trust  families  to
            expanded  tax  credits  that  monthly  payments  were  inflation and the size of the  with  most  studies  suggest-  make their own decisions,"
            were going out in the mid-   a policy success that paid  national debt.                ing that the impact would  Michelmore said.
            dle  of  every  month  to  ex-  out  $93  billion  over  six  The  Census  Bureau  sur-  be statistically negligible.  Hairdresser Chelsea Woody
            pire in January. This is whit-  months.  More  than  36  mil-  veyed    the  spending  pat-  Academics  who  study  the  is  a  single  mother  from
            tling  down  family  incomes  lion  families  received  the  terns  of  recipients  during  tax credit are torn on how  Charleston,  West  Virginia,
            at  the  precise  moment  payments  in  December.  September  and  October.  a             permanent     program  who works six days a week
            when  people  are  grap-     The  payments  were  $300  Nearly  a  third  used  the  would affect the economy  to  make  ends  meet.  The
            pling with higher prices.    monthly for each child who  credit to pay for school ex-  and child welfare.           extended  child  tax  credit
            However,  families  only  re-  was five and younger, and  penses,  while  about  25%  Katherine  Michelmore,  an  payments had helped pay
            ceived  half  of  their  2021  $250  monthly  for  children  of families with young chil-  associate professor of pub-  for  her  son's  daycare,  as
            credit  on  a  monthly  ba-  between  the  ages  of  six  dren spent it on child care.  lic  policy  at  the  University  well  as  letting  her  splurge
            sis  and  the  other  half  will  and 17.                 About  40%  of  recipients  of Michigan, and two other  on clothes for him.
            be  received  once  they  The  Treasury  Department  said  they  mostly  relied  on  researchers estimated that  "It  truly  helps  out  a  lot.  It's
            file  their  taxes  in  the  com-  declined  to  address  ques-  the money to pay off debt.  roughly  350,000  parents  an extra cushion, instead of
            ing months. The size of the  tions  about  the  expiration  There are separate benefits  would exit the workforce, a  me worrying how I'm going
            credit  will  be  cut  in  2022,  of the expanded child tax  in  terms  of  improving  the  figure that is not all that sig-  to  pay  a  bill  or  if  anything
            with full payments only go-  credit,  which  has  become  outcomes for impoverished  nificant in an economy with  comes up," Woody said as
            ing to families that earned  a  politically  sensitive  issue  children,  whose  families  roughly 150 million jobs.  she  loaded  groceries  into
            enough  income  to  owe  as part of Biden's nearly $2  could  not  previously  ac-     Michelmore  said  the  long-  her car. "It's helpful for a lot
            taxes, a policy choice that  trillion  economic  package  cess  the  full  tax  credit  be-  term  effects  of  a  perma-  of people. It helps working
            will limit the benefits for the  that has stalled in the Sen-  cause  their  earnings  were  nent tax credit would have  families  out  because  we
            poorest  households.  And  ate.                           too low. An analysis by the  a  positive  impact  on  the  struggle the most. I'm hardly
            the  credits  for  2022  will  Manchin  has  supported  Urban  Institute  estimated  economy, as children who  home with my kid because
            come  only  once  people  some  form  of  a  work  re-    that  extending  the  credit  grow  up  in  families  with  I work all the time."q
            file their taxes at the start of  quirement  for  people  re-  as developed by the Biden  higher  incomes  "tend  to

                                                                      Supreme Court halts COVID-19

                                                                      vaccine rule for US businesses



                                                                      cluded  the  administration  addressing  the  COVID–19  health  emergencies,"  Jus-
                                                                      overstepped  its  authority  pandemic,  it  has  declined  tices Stephen Breyer, Elena
                                                                      by  seeking  to  impose  the  to enact any measure simi-  Kagan and Sonia Sotomay-
                                                                      Occupational  Safety  and  lar to what OSHA has pro-      or wrote in a joint dissent.
                                                                      Health     Administration's  mulgated  here,"  the  con-  President Joe Biden said he
                                                                      vaccine-or-test rule on U.S.  servatives  wrote  in  an  un-  was "disappointed that the
                                                                      businesses with at least 100  signed opinion.             Supreme Court has chosen
                                                                      employees.  More  than  80  In dissent, the court's three  to  block  common-sense
                                                                      million people would have  liberals  argued  that  it  was  life-saving requirements for
                                                                      been  affected  and  OSHA  the  court  that  was  over-   employees  at  large  busi-
                                                                      had estimated that the rule  reaching  by  substituting  its  nesses that were grounded
                                                     Associated Press
                                                                      would save 6,500 lives and  judgment for that of health  squarely  in  both  science
            By  MARK  SHERMAN  and  nation's  COVID-19  vacci-        prevent  250,000  hospital-  experts.  "Acting  outside  of  and the law."
            JESSICA GRESKO               nation rate, a requirement  izations over six months.     its  competence  and  with-  Biden called on businesses
            Associated Press             that  employees  at  large  "OSHA  has  never  before  out  legal  basis,  the  Court  to  institute  their  own  vac-
            WASHINGTON  (AP)  —  The  businesses  get  a  vaccine  imposed such a mandate.  displaces  the  judgments  cination requirements, not-
            Supreme Court has stopped  or test regularly and wear a  Nor  has  Congress.  Indeed,  of  the  Government  offi-   ing  that  a  third  of  Fortune
            a major push by the Biden  mask on the job. The court's  although Congress has en-     cials  given  the  responsibil-  100  companies  already
            administration to boost the  conservative  majority  con-  acted significant legislation  ity to respond to workplace  have done so. q
   1   2   3   4   5   6   7