Keyword: social mobility
In preparing for the IGM conference on THE ROLE OF ECONOMICS AND ECONOMISTS IN PUBLIC POLICY AND PUBLIC DEBATE, which was originally scheduled for April 2020, we asked the US economic experts panel these questions in February 2020. When the conference was delayed by the pandemic, we deferred releasing the results. Now that the conference is approaching (it takes place on 28-29 April 2022), we are reporting the findings.
The American Rescue Plan Act of 2021 temporarily increased the value of the child tax credit from $2,000 to $3,000 for children aged 6-16 and to $3,600 for younger children. To date, the Biden administration has been unable to renew the expansion of the child tax credit, amid broad public debate about its effects on child poverty and parental labor supply, as well as its potential longer-term fiscal benefits.