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Vice President Harris speaks with the media before boarding Air Force Two on June 18. Photo by Megan Varner/Getty Images.

Vice President Kamala Harris on Monday encouraged families to take advantage of the new child tax credit, arguing it's key cutting childhood poverty, The Washington Post reports.

Why it matters: The expanded tax credit, which was passed as part of the American Rescue plan, has the potential to decrease the number of impoverished children by 40%, the Post notes.

  • “When more families know about how they can get the relief, that is how we will be able to lift our children out of poverty,” Harris said. “That is how we will be able to lift up our nation’s middle class, as well.”
  • Harris was in Pittsburgh, Pennsylvania to push for an infrastructure package.

The big picture: The credit was expanded to cover low-income families who don't earn enough to pay taxes and $15 billion for the Child Care and Development Block Grant. The credit families can access will be paid out next month, per Washington Post.

  • In a video released Monday, President Biden called for the tax credit to extend beyond 2021 to “ensure that all working families can raise their kids with support and dignity they deserve.”

Go deeper

Pandemic-era stimulus lifted millions out of poverty, new government data shows

A woman carries a box of food as others wait in line at a food bank in Van Nuys, Calif., in April 2020. Photo: Mario Tama/Getty Images

In one of the worst years ever for the economy and labor market, America's poverty rate dropped, per one measure that takes into account pandemic-era aid, the government said Tuesday.

Why it matters: It underscores the colossal impact stimulus checks, expanded unemployment payments and other benefits had on households in 2020 — even as millions lost jobs. Without them (and other safety nets, like Social Security), the poverty rate jumped for the first time in five years by one percentage point to 11.4%.

Dan Primack, author of Pro Rata
Sep 14, 2021 - Economy & Business

Silicon Valley stirs over proposal to end popular tax break

Illustration: Annelise Capossela/Axios

Silicon Valley lawyers and wealth managers had their switchboards melt down yesterday, as word spread that House Democrats have proposed to retroactively end the tax break for qualified small business stock (QSBS).

Why it matters: Many startup founders and early employees have made major financial decisions based on the QSBS tax exemption, which has been at 100% since 2009.

Special Envoy for Haiti resigns over deportation of migrants and asylum-seekers

Daniel Foote testifies during a Senate Foreign Relations Committee hearing on May 26, 2016. Photo: Drew Angerer/Getty Images

The Special Envoy for Haiti on Wednesday resigned from his position, writing in his resignation letter obtained by PBS that he "will not be associated with the United States inhumane, counterproductive decision to deport thousands of Haitian refugees."

Why it matters: Ambassador Daniel Foote's resignation comes amid heightened anger over the treatment of Haitian migrants and asylum-seekers living in a temporary encampment in Del Rio, Texas — especially after images surfaced of Border Patrol agents whipping at the migrants from horseback.