So, being a UBI advocate, I feel like I have to actually reward politicians for attention when they do a good thing. And that good thing is a semi-permanent child tax credit given to parents of children under the age of 18. The maximum amount given is around $3000-3600 depending on age, which is a bit less than my $4800 suggestion, or my older $4000 suggestion, but meh, don't look a gift horse in the mouth, right? It will begin to phase out at incomes between $75,000-150,000, which is a bit different than my program though ( my UBI would phase out entirely at $66,000 for single adults, $132,000 for couples, and an additional $24,000 per child in a household).
I say semi permanent because it's only valid through 2025, but that's because he took the EITC/NIT approach. He can only guarantee this through his administration. The next administration can easily just...pull the rug out from under this and reverse it. He had not committed to making a permanent program out of this. See my previous post on NIT "basic income" plans below this one for details. Still, it's a nice gesture. As long as Biden remains in office, we got UBI for kids basically. Not as good as what I'd want, but better than nothing. He deserves credit for this. Probably one of the best things to come out of his administration.
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