>>> THE SWEEPING PACKAGE OF
NEARLY $2 TRILLION SIGNED INTO
LAW ON THURSDAY BY PRESIDENT
BIDEN WAS DESIGNED TO FIGHT THE
YEAR-LONG HEALTH CRISIS THAT HAS
BROUGHT WITH IT AN ECONOMIC ONE.
THERE'S MORE TO THE LEGISLATION.
MUCH MORE.
IN FACT, REPUBLICANS WHO VOTED
AGAINST THE BILL UNANIMOUSLY
COMPLAIN THAT MOST OF THE
PROPOSED SPENDING IS UNRELATED
TO THE PANDEMIC.
DEMOCRATS THOUGH ARE MAKING NO
APOLOGY FOR INCLUDING MEASURES
THEY SAY GET AT THE ROOT OF
POVERTY IN AMERICA.
INCLUDING A LONG SOUGHT POLICY
TO HELP STRUGGLING CHILDREN.
HALLIE JACKSON HAS MORE IN OUR
SUNDAY FOCUS.
>> THIS IS THE MOST
CONSEQUENTIAL LEGISLATION THAT
THE SPEAKER HAS BEEN A PART OF
SINCE OBAMACARE.
>> TO GO BIG ON CO-KCOVID RELIE
>> Reporter: THE HEADLINES
FOCUSED ON THE TOP LINE.
>> THE SENATE PASSED THE $1.9
TRILLION COVID RELIEF BILL.
>> Reporter: INSIDE ONE OF THE
600 PAGES OF THE NEW RELIEF LAW,
A LITTLE PARAGRAPH, A LIFE
CHANGING ONE FOR MILLIONS OF
FAMILIES, THOUSANDS OF DALLASS
F
DOLLARS FOR A TAX CREDIT.
THINK OF IT AS GUARANTEED INCOME
FOR FAMILIES WITH CHILDREN.
THIS MOM SPENT MUCH OF THE BACK
YEAR IN THE BACK OF AN
AMBULANCE.
SHE KNOWS WHAT IT IS LIKE AFTER
NEEDING HELP.
>> THROUGH THE COURSE, I ENDED
UP BEING HOMELESS.
BEING HOMELESS WITH FIVE KIDS
WAS DEFINITELY SOMETHING THAT I
NEVER IMAGINED.
>> Reporter: WITH THE NEW
CREDIT, PARENTS CAN SPEND THE
MONEY ON WHATEVER THEY NEED
MOST, STARTING IN JULY, THE
CHECKS WILL BE DISBURSED MONTHLY
UP TO $300 A MONTH FOR KIDS 5
AND UNDER AND $250 A MONTH FOR
EACH SCHOOL-AGE SCHOOL 6 AND UP.
THE NEXT COMES AT TAX TIME.
THE FOXES WILL GET JUST OVER
$15,000.
HUGE FOR SAVANNAH NOW IN A HOME
OF HER OWN WITH A SAVINGS BUFFER
AND WORKING THREE JOBS.
>> THAT COULD HELP WITH
GROCERIES.
THAT COULD BE ADDED HELP FOR
BILLS.
IT COULD ALLOW ME MONEY FOR
THEIR FUTURE.
>> Reporter: THE RIPPLE AFFECT
EXPECTED TO BE ENORMOUS.
BY SIGNING THIS BILL INTO LAW,
PRESIDENT BIDEN, WITH THE STROKE
OF A PEN, IS PROJECTED TO CUT
CHILD POVERTY BY NEARLY HALF,
ACCORDING TO A STUDY BY COLUMBIA
UNIVERSITY, WITH ESTIMATES
SUGGESTING IT WILL HELP NINE OF
EVERY TEN KIDS IN THE COUNTRY.
THIS IS MORE THAN JUST SYSTEM
OOH
-- STIMULUS CHECKS.
>> IT'S SOCIAL SECURITY FOR
KIDS.
WE DON'T HAVE A POLICY LIKE
THIS.
BEING POOR IS TOUGH FOR A KID.
IT'S VERY TOUGH FOR OUR COUNTRY.
CHILDHOOD POVERTY COSTS AMERICAN
A TRILLION DOLLARS A YEAR.
>> Reporter: FEW REPUBLICANS
HAVE TAKEN DIRECT AIM AT THE NEW
CREDIT, SOME CONSERVATIVE GROUPS
ARGUE THE MONEY COULD
INCENTIVIZE PEOPLE NOT TO WORK.
>> WE AGREE WE SHOULD BE DOING
SOMETHING.
WHAT WE SHOULD NOT BE DOING IS
USING THE PANDEMIC AS AN EXCUSE
TO PUT THROUGH A WISH LIST OF
ALL KINDS OF PROGRAMS THAT HAVE
NOTHING TO DO WITH HELPING
PEOPLE RELATED TO THE PANDEMIC.
>> Reporter: FOX SAYS THE REAL
VALUE OF THIS MONEY FOR HER
FAMILY IS PRICELESS.
>> I THINK THAT THIS PACKAGE
WILL HELP ME AND MY CHILDREN,
FOR SURE, GET US TO THE GOALS WE
NEED TO GET TO IN ORDER TO
SUCCEED.
>> HALLIE JOINS ME NOW LIVE.
GREAT TO SEE YOU ON A SUNDAY
MORNING, MY FRIEND.
AS YOU FOUND REPORTING THIS
PIECE, THERE'S SO MANY
ORGANIZATIONS THAT FIGHT
POVERTY, WHO FOR YEARS HAVE
POINTED TO THIS POLICY AS A GAME
CHANGER.
LET'S START BY LAYING OUT WHO
EXACTLY QUALIFIES FOR THIS
BENEFIT WHEN IT STARTS LATER
THIS YEAR.
>> Reporter: IT'S A GOOD
QUESTION.
SOME PEOPLE THINK, ISN'T THERE
ALREADY A CHILD TAX CREDIT IN
PLACE.
THIS IS DIFFERENT FOR 2021.
IT GIVES MORE MONEY.
INSTEAD OF A $2,000 CREDIT
LIMIT, IT'S $3,600 AND MORE
PEOPLE QUALIFY, SPECIFICALLY
LOWER INCOME FAMILIES, FAMILIES
AT THE LOWER END OF THE INCOME
SCALE WILL QUALIFY.
IT DOES PHASE OUT.
IF YOU MAKE MORE, IF YOU ARE A
COUPLE, YOU ARE IN A HOUSEHOLD,
YOU MAKE MORE THAN $150,000 A
YEAR, THIS STARTS TO PHASE OUT.
YOU ARE ELIGIBLE FOR A SMALLER
ONE, UP TO A CERTAIN INCOME
POINT.
>> THERE IS TALK AMONG DEMOCRATS
OF EXPANDING THIS CHILD TAX
CREDIT BEYOND THIS YEAR AND
MAKING IT PERMANENT.
IS THERE AN APPETITE IN THIS
CONGRESS TO DO THAT?
>> Reporter: DEFINITELY ON THE
PART OF DEMOCRATS.
THIS IS JUST TEMPORARY.
THIS IS GAME CHANGING, AS YOU
DESCRIBE, AS ADVOCATES DESCRIBE,
FOR A LOT OF FAMILIES FOR THIS
YEAR.
RIGHT?
IT GOES AWAY IN A YEAR.
THAT'S HOW THE LAW IS WRITTEN
NOW.
THERE ARE DEMOCRATS, SENATOR
BENNETT, WHO YOU SAW IN THE
PIECE, OTHERS WHO THINK IT'S
VERY UNLIKELY THAT THIS ACTUALLY
DOES DISAPPEAR.
YOU HAVE SOME REPUBLICANS,
INCLUDING, FOR EXAMPLE, MITT
ROMNEY WHO INTRODUCED THEIR OWN
VERSION OF THIS.
THERE MAY BE AN APPETITE IN
CONGRESS.
HOW DO YOU GET THERE?
AS ALWAYS WITH THINGS IN
WASHINGTON, THE DEVIL IS IN THE
DETAILS.
THAT MAY BE WHERE STICKING
POINTS ARE.
POLITICALLY, ONCE YOU HAVE TAKEN
A STEP LIKE THIS AND IF THE
PROJECTIONS ARE ACCURATE, THIS
DOES CUT CHILD POVERTY
SIGNIFICANTLY, AS SOME DEMOCRATS
POINT OUT, IT'S A TOUGH ARGUMENT
TO MAKE TO SAY, LET'S HAVE THIS
GO AWAY AND BRING CHILD POVERTY
BACK UP TO THE LEVELS THEY USED
TO BE AT.
THIS IS ONE TO WATCH.
THE QUESTION IS PROBABLY MORE,
HOW DO YOU DO IT THAN IF IT
HAPPENS.
>> ANY WAY YOU SLICE IT, THIS