"Children's Budget 2021," the 15th annual Children's Budget analysis, is released as Congress stands at a proverbial crossroads for the nation's kids. For more than a decade, this report has documented mostly bad news, in which the share of federal spending for kids has sharply declined. But, as Congress grappled with how to respond to a country in crisis, they were compelled to make long-overdue investments this year in early childhood, child care, education, family medical leave, child nutrition, and health care. The "2021 Children's Budget" book finds that COVID funding fueled the largest year-to-year increase in the share of federal spending on kids since tracking began in 2006. The share of federal spending on children rose to 11.2% in 2021, a 3.5 percentage point increase over 2020. The historic increase comes after four straight years in which the share of spending on children declined by 25% to just 7.6%. President Biden and Congress have made extraordinary and desperately needed investments in the nation's children to reverse the long-term downward trend in investing in children. The question is whether there will be a return to the old, tragic, downward trend or if the nation will live up to its promises to the next generation. [This report received additional support from the Wellspring Philanthropic Fund and the GHR Foundation. For the 2020 report, see ED617709.]