Perhaps most significantly, it greatly expands a child tax credit and turns it into steady income for poor families. All told, experts say, the package will reduce child poverty by nearly half. As ambitious and expensive as it is, the American Rescue Plan, which Biden signed into law Thursday, stands to go only so far in reducing income and wealth inequality. Still, inequality runs so deep in the United States that even the nearly $2 trillion in the Biden package alone won't uproot it. “I would give it high marks for reducing income inequality, recognizing that it’s not meant to be a long-term structural change,” she said.

Source: ABC News March 13, 2021 16:30 UTC