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President Joe Biden told lawmakers that he will put forward a plan to temporarily extend the expanded child tax credit, but he stopped short of proposing to permanently install it, according to The Wall Street Journal.

An expanded child tax credit was included in the $1.9 trillion COVID-19 relief package signed in March and was made scalable across income thresholds. One study said it could nearly halve child poverty, as Insider previously reported.

As Tanza Loudenback from Insider’s personal finance team wrote in an explainer on the child tax credit changes from 2020 details ⇒

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