ADVISER TO PRESIDENT OBAMA AND
AMBASSADOR TO THE UNITED
NATIONS.
THANK YOU FOR JOINING US
TONIGHT.
WHAT IS THE WHITE HOUSE APPROACH
TO GETTING THE WORD OUT ABOUT
HOW TO FILE FOR THIS?
BECAUSE MANY PEOPLE DONT EVEN
REALIZE THEYRE ELIGIBLE FOR IT.
>> WELL, THANK YOU.
GREAT TO BE WITH YOU.
FIRST TODAY IS VERY DELIBERATELY
CHILD TAX CREDIT AWARENESS DAY.
WERE MAKING A BIG PUSH TO GET
THE WORD OUT THAT FOR THE VAST
MAJORITY OF AMERICAN FAMILIES,
BEGINNING ON JULY 15th, THROUGH
EITHER DIRECT DEPOSIT OR A CHECK
IN THE MAIL, YOU WILL GET $300
EVERY MONTH FOR EVERY CHILD
BETWEEN THE AGES OF 6 AND 17.
-- EXCUSE ME, $250 A MONTH FOR
CHILDREN AGES 6 TO 17, AND $300
A MONTH FOR CHILDREN, EACH CHILD
UNDER THE AGE OF 6.
AND THIS IS VITALLY IMPORTANT
FOR THE REASONS YOU SAID.
THIS IS CASH MONEY IN PEOPLES
BANK ACCOUNTS THAT THEY CAN PLAN
FOR AND SPEND AGAINST.
AND IT IS VITALLY IMPORTANT
BECAUSE OUR CHILDREN ARE THE
MOST VULNERABLE IN OUR SOCIETY.
THEY NEED THIS SUPPORT.
THIS WILL HELP OVER 90% OF
AMERICAN CHILDREN.
THIS IS SOMETHING IMPORTANT TO
BE SAID IT HAD SHOW UP AS A
DIRECT DEPOSIT IF YOU HAVE FILED
TAX RETURNS IN THE LAST TWO TAX
YEARS.
THERE IS A SUBSTANTIAL SEGMENT
OF AMERICANS WHO DONT EARN
ENOUGH MONEY TO PAY TAXES AND TO
FILE TAXES.
SO FOR THOSE AMERICANS WHO ARE
ALSO ELIGIBLE FOR THE SAME TAX
CREDIT THAT I JUST DESCRIBED, IT
IS VERY IMPORTANT THAT THEY KNOW
THAT THEY NEED TO SIGN UP IN
ORDER TO GET THESE CHECKS COMING
TO THEM DIRECTLY.
THEY NEED TO GO TO CHILD TAX
CREDIT.GOV.
CHILD TAX CREDIT.GOV.
AND YOU ARE AS ELIGIBLE AS
ANYBODY WHO HAS FILED THEIR
TAXES OVER THE LAST TWO YEARS.
SO THIS IS HERE FOR ALL
AMERICANS WHO NEED IT, FOR
WORKING AMERICANS AND FOR 90% OF
AMERICAN CHILDREN.
>> INCOME SECURITY POLICY IS A
CHALLENGING ARENA.
THE GOVERNMENT HAS BEEN AT IT
FOR DECADES, REALLY START IN
1935.
ONE OF THE PROBLEMS THAT EXISTED
IN THE PAST FOR THINGS LIKE THE
TAX CREDIT.
IT IS A ONCE A YEAR FINANCIAL
MOMENT IN YOUR LIFE.
YOU SUDDENLY GET THIS ONCE A
YEAR CHECK.
GETTING THIS TO BE A MONTHLY
BUDGETABLE ID FOR PEOPLE IS A
HUGE BREAK THROUGH IN THIS
POLICY.
>> IT IS, ABSOLUTELY.
YOU GET A LUMP SUM AT THE END
WHEN YOU FILE YOUR TAXES.
THAT DOESNT ENABLE YOU TO
BUDGET AND TO MONDAY AS EASILY.
SO THIS IS A BREAKTHROUGH, BOTH
IN THE INCREASED AMOUNT THAT
CONSCIENCE AND BIDEN MADE
AVAILABLE TO WORKING FAMILIES
BUT ALSO ITS PROTECTABILITY.
THE EXPECTATION IS THIS ACTION,
THIS CHILD TAX CREDIT WILL HELP
CUT CHILD POVERTY IN HALF THIS
YEAR.
WHICH IS HUGE.
ITS HUGE.
IT IS VITALLY NEEDED, IT IS
OVERDUE.
THE OTHER IMPORTANT THINGS WHAT
CONGRESS PASSED IN THE AMERICAN
RESCUE PLAN EXTENDED AND
EXPANDED THE CHILD TAX CREDIT
FOR THIS YEAR.
FOR THIS.
AT A YEAR.
WHAT PRESIDENT BIDEN WANTS TO
DO, IT IS VITALLY IMPORTANT.
HE PROPOSED THIS THROUGH HIS
AMERICAN FAMILIES PLAN.
TO EXTEND THIS SAME BENEFIT, FOR
EVERY CHILD UNDER 6, THE SAME
FOR CHILDREN 6 TO 17 FOR YEARS
AND YEARS TO COME.
IT IS NOT JUST FOR ONE YEAR.
IT IS SOMETHING AMERICANS CAN
COUNT ON GOING FORWARD.
>> AS WE DISCUSS THIS, IM
HEARING ECHOS OF THINGS DANIEL
PATRICK MOYNIHAN HAS SAID
THROUGHOUT HIS CAREER.
AND I WAS THINKING, THERE ARE
VERY FEW PEOPLE IN AMERICAN
GOVERNMENT WHO HAVE BEEN
AMBASSADOR TO THE UNGSS AND
DOMESTIC POLICY ADVISER TO THE
PRESIDENT.
YOU AND PATRICK MOYNIHAN.
THATS IT.
ONE THING HE IS ALWAYS ARGUING
AND STRUGGLING WITH.
THE GOVERNMENT HAS ALWAYS BEEN
VERY RESISTANT TO IT.
THE CURE FOR POVERTY IS MONEY.
WHAT POOR PEOPLE NEED IS MONEY.
AS FAR BACK AS THE NIXON
ADMINISTRATION, HE WAS TRYING TO
PUSH FOR SOMETHING APPROACHING A
GUARANTEED ANNUAL INCOME.
THAT POLICY ARENA HAS SHIFTED
INTO THE TAX CODE OVER THE LAST
30 YEARS OR SO.
WERE NOW APPROACHING THIS
THROUGH THE.
AT A CODE WHICH SEEMS LIKE A
MORE OFFICIAL METHOD.
>> IT IS DEFINITELY EFFICIENT.
IN THE CASE OF THE CHILD TAX
CREDIT, AS WEVE DISCUSSED,
DIRECTLY LAND CASH MONEY IN
PEOPLES BANK ACCOUNTS WHEN THEY
NEED IT MOST.
AND IT IS SIMILAR TO ANOTHER
VERY IMPORTANT PROVISION OF THE
AMERICAN RESCUE MAN WHICH IS
ENABLED AMERICANS TO PURCHASE
HEALTH INSURANCE.
THE AFFORDABLE CARE ACT AT
HEALTHCARE.GOV AND DO SO AT MUCH
REDUCED COST DUE TO TAX PREMIUM
INCREASES.
SO THIS IS THE KIND OF BENEFIT
THAT AMERICANS NEED MOST AT A
TIME, COMING OUT OF THE
PANDEMIC, WHERE SO MANY HAVE
STRUGGLED ECONOMICALLY.
THEY HAVENT BEEN ABLE TO
PROVIDE ADEQUATELY FOR THEIR
FAMILIES.
THESE ARE THE KINDS OF POSITIVE
STEPS THAT PRESIDENT BIDEN AND
THE DEMOCRATS IN CONGRESS HAVE
BEEN ABLE TO BENEFIT AMERICANS
DIRECTLY AND IMMEDIATELY AND THE
VERY TIME OF THING THE PRESIDENT
INTENDS TO MAKE LONG-LASTING
THROUGH HIS PROPOSED AMERICANS
FAMILY PLAN.
WHICH WILL COME BEFORE CONGRESS
AND THE AMERICAN PEOPLE.
>> IM SURE IT IS MORE THAN A
BIT INTRIGUING TO OUR AUDIENCE
TO SEE YOU GO FROM NATIONAL
SECURITY ADVISER FOR ONE
PRESIDENT TO DOMESTIC ADVISER TO
ANOTHER PRESIDENT.
WHAT HAS THAT TRANSITION BEEN
LIKE FOR YOU?
I GUESS THE BIG DIFFERENCE ON
THE DOMESTIC POLICY FRONT, THERE
ARENT THE MIDDLE OF THE NIGHT
EMERGENCIES THAT YOU HAVE IN THE
NATIONAL SECURITY ADVISAR.
>> THATS ONE OF THE DIFFERENCES
AND THANKFULLY, I HAVENT GOTTEN
THAT CALL YET AS DOMESTIC
SECURITY ADVISER.
ITS INTERESTING.
MANY OF THE SKILLS, THE
EXPERIENCES, MAKING THEM PRODUCE
AND DECIDE THAT THEYRE
IMPLEMENTED, THEYRE VERY MUCH
THE SAME.
WORKING ON FOREIGN POLICY OR
DOMESTIC POLICY.
THE SUBSTANCE IS DIFFERENT.
FOR ME IT IS EXCITING.
INTERESTING AND CHALLENGING AND
MOTIVATING TO GET TO WORK ON THE
ISSUES THAT MATTER MOST ON A
DAILY BASIS TO THE AMERICAN
PEOPLE.
IT WAS A GREAT HONOR AND A
PRIVILEGE TO SERVE UNDER
PRESIDENT OBAMA AND HELP KEEP
AMERICANS SAFE AND AN EQUAL
PRIVILEGE NOW TO SERVE UNDER
PRESIDENT BIDEN, TRYING TO
ENSURE THAT THE AMERICAN PEOPLE
HAVE WHAT THEY MOST NEED.
TO NOT ONLY BE SECURE BUT TO
DEVELOP AND PROSPER.
GENERATIONAL WEALTH IN A MANNER