Biden’s child tax credits could cut child poverty by 45%

American parents are slated to receive more pandemic-related aid starting July 15th, when Joe Biden’s administration will start distributing cash to families with joint income of less than $400,000 or individual income below $200,000. The money, which is part of the stimulus package passed in March, is technically a tax credit for the 2021 tax year. According to one estimate, from the Center on Poverty and Social Policy at Columbia University, the tax credits could cut the overall child poverty rate by 45%.