Child Tax Credit

We review how the program works and compute its impact with PolicyEngine US. — In Tuesday’s State of the Union speech, President Joe Biden called to expand the Child Tax Credit. What is the Child Tax Credit, how might it affect you, and what impact does PolicyEngine estimate it has on society? This blog post covers the bases. What is the Child Tax Credit? The Clinton administration introduced the Child…

Yet Congress will not extend it. By almost any measure, the 2021 refundable Child Tax Credit (CTC) was an overwhelming success. It drove the largest-ever decline in child poverty in a single year — in 2021, child poverty fell to 5.2%, the lowest rate on record. Making the credit fully…

As the end of the year approaches, families are still struggling. With rising costs, long hours with low wages, and recent surges in respiratory infections among children complicating work and child care arrangements and increasing stress, families need more support. …

Congress should set the CTC to auto-morph into a child allowance during recessions and emergencies. As we enter the lame-duck session of Congress, the tragically fallen enhanced Child Tax Credit is back on the agenda. Both Matt Yglesias and Vox’s Rachel Cohen have pieces dissecting the state of congressional negotiations…

by Alex Coccia, Ellie Kaverman, Megan Martin Right now, the stakes could not be higher for families with children. With rising inflation and looming economic uncertainty, all set to the backdrop of a slow pandemic recovery, families are struggling to make ends meet — exacerbated by last year’s decision to…

The Maryland state government will head into the 2023 session with a substantial surplus from the previous few years. After meeting with dozens of state legislators directly, it is clear to us that Democrats are planning to use a large portion of these funds to invest in income tax credits…

It angers the center AND the left — You may have heard that Dems’ CTC (child tax credit), which halved child poverty, has been gone for a few months without any hope of resurrecting it. You may also have heard that Romney was planning to save it. OR you may have heard how utterly bipartisan everyone thinks it…

Far too often, policies that involve children fail to address their needs or concerns. In fact, children are often treated as an afterthought even when it comes to policies with “child” in the name. …

By: Nichole Davis — Executive Director, NYC Office of Financial Empowerment and Gabriel Zucker — Associate Policy Director for Tax Benefits, Code for America In 2021, the expanded Child Tax Credit (CTC) was tremendously successful and effective. It reached about 61 million U.S. children¹ and is estimated to have impacted…