Shaefer: Child benefit in stimulus is transformational, aligns with industrialized countries

March 10, 2021 PRI's The World

“There are a lot of countries that [provide a monthly child tax benefit] already; some for decades: Canada, Austria, Denmark, France, Germany, Australia. These countries have decided, 'hey, raising kids is expensive, and the government has a reason to support parents in that work'...The great thing about this [child tax benefit] is that it would treat families...exactly the same. It would be a tax credit, but it would be something that is administered monthly. Families could count on $250 per child, $300 per young child under 6, every month. This would be money they could use to pay rent, put food on the table, or pay for childcare, and sometimes make it possible for a parent to go to work," said Shaefer. "I think this is one of those great opportunities where we can put this in place and we can see what Americans think about it. The Biden Plan here in the United States is estimated by my colleagues at Columbia to reduce child poverty by 45 percent. That would be transformational."

Listen to Shaefer's full interview with PRI's The World, here.