A Democrat who controls the White House is giving away unlimited amounts of taxpayer money through his reforms.
The Biden administration recently reformed the child tax credit, giving parents the choice of receiving an annual or monthly payout of up to $300 a month from July 15.
However, President Joe Biden failed to limit the number of children a family can claim for, meaning the country could be plunged into endless debt to cover the cost of child tax credits.
Biden urged every family to register for the payment, spread the word, and encourage everyone to sign-up. He even promised to extend the program if enough parents register before the end of 2021.
“We are asking Americans to come together to build support and awareness for this vital tax relief for families,” he said in a statement. “Help us extend it for years to come, and to ensure we get all children in our nation’s low-income families signed up this year.”
The president also suggested different ways struggling families could spend the taxpayer money to “make a difference” in their own lives.
“This tax cut will give our nation’s hardworking families with children a little more breathing room when it comes to putting food on the table, paying the bills, and making ends meet,” he said. “[Signing] up the lowest income families … will help bring us even closer to cutting child poverty in half.”
Funds provided through the Democratic Party’s $1.9 trillion Chinese Communist Party (CCP) Virus relief package will give eligible working parents up to $300 a month per child under the age of 6 and $250 a month for each child aged between 6 and 17.
The full amount will be available to eligible widows and widowers, as well as married taxpayers who made less than $150,000 in 2020 and filed jointly. Full payments will also be made to eligible household heads earning up to $112,500 a year and individuals who annually earn up to $75,000.
If parents do not sign-up for monthly payments in time for the first payment in mid-July, they will either receive larger monthly payments to compensate or the annual amount after filing their tax returns in 2022.
Biden wants to extend the monthly payment plan until at least the year 2025 and potentially make it permanent. However, fellow Democratic lawmakers only want the payments to be processed monthly.
“Let us all work together to make sure that the help that is here reaches those who most need it, this year and for years to come,” he said.
About 39 million American families are expected to receive monthly payments from the IRS. This represents about 90 percent of U.S. children, according to the Daily Mail.