How The Expanded Child Tax Credit Could Cut Childhood Poverty In Half
In a historic move, Congress voted in early 2021 to temporarily expand the child tax credit, opting to send monthly payments to more families.The first payments rolled out last week. Depending on a kid’s age, families received between $250 to $300 per child.
Some estimates say it could cut child poverty in half if they can reach every family eligible.
The expansion of the credit signals the first time the United States has attempted to curb child poverty through enhanced direct payments made widely available to almost all families with children. A study by the Center on Poverty and Social Policy at Columbia University found that, if successful, the policy could cut the child poverty rate from 13.6 percent to 7.5 percent — a 45-percent reduction.
How will this change raising a family in America? And what does the future of the program look like?
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