Tag: child tax credit
The fate of the recent expansion of the federal child tax credit is uncertain in the ongoing budget negotiations in Congress. What is clear is that poor and low-income families are putting the increased assistance to good use. Nine out of 10 families earning less than $35,000 are spending the money on one or mor…
To lift families out of poverty during the pandemic, Congress is on the verge of passing a substantial increase this year in the standard child tax credit as part of President Biden’s broader relief package. But despite the sharp divide over the $1.9 trillion package, some senators – both Democrats and Republicans – want to…