James P. Steyer, CEO and Founder of Common Sense, on President Biden's American Families Plan

SAN FRANCISCO -- James P. Steyer, founder and CEO of Common Sense, issued the following statement in reaction to President Biden's American Families Plan:

'President Biden is proposing one of the most important investments in children, young adults and families ever. He deserves credit for his vision and for his plan to reverse decades of neglect that has left so many kids behind and allowed inequality in America to grow virtually unchecked. The extension of the new child tax credit through 2025 in the American Families Plan will be very meaningful for low-income kids and their families, and making the credit fully refundable permanently is a very good policy change that will help the lowest-income families the most.

'But the President and Congress have an opportunity, now, to take a truly historic step and extend the new child tax credit permanently, ensuring that we cut child poverty in half for good. Failure to extend the new credit permanently will leave these important gains vulnerable to political gamesmanship in 2025, and America's children are likely to be the losers.'

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