An open letter signed by 133 economists urged that Biden's expanded Child Tax Credit of $300 per month would benefit low-income families without raising inflation.
A negative income tax that eliminates poverty, with a maximum benefit of $12,500 that phases out by $50,000 for single-adult households and $70,000 for two-adult households, is estimated to cost $839 billion per year.
Guaranteed Income for the 21st Century
Open letter from economists: extend the expanded Child Tax Credit to help families keep up with rising costs
Negative Income Tax (NIT)
Policy Design Details