No, thatās an intentionally misleading misnomer by the Dems. They HAD been credited back against taxes owed, but now people Get the full amount, even if they pay no taxes at all.
For example, letās say the credit was $2,000 per child, and you had two kids, for a total of $4,000. Now letās say you owed $3,000. You applied the $4,000 credit against the $3,000 owed - and you paid nothing in taxes.
Now, though, you get the entire INCREASED amount regardless of the taxes. So now itās $3600 each kid, for $7,200. (Under age 6.) You still owe $3,000. Now instead of the $7,200 wiping out the tax, and then being ādone,ā you get the $4,200 difference paid to you. Thatās more than a ācreditā.
Or, consider a woman with no income and two kids. Before, the tax credit meant nothing because.ā¦.she paid no taxes. In fact, she GOT benefits, like food stamps and Medicaid. Now she gets an additional $7200 for the two kids, cash money.
This is pure welfare, provided to parents, in order to get more people dependent on government.