Today, parents will receive the latest installment of President Biden and congressional Democrats’ Child Tax Credit, a historic middle class tax cut signed into law as a part of the American Rescue Plan. Thanks to these life-saving payments, billions of dollars were sent to the families of 61 million children last month to help parents pay for diapers, extracurricular activities, school supplies, and child care.
In comparison to Republicans’ 2017 tax law, which disproportionately benefited corporations and the ultra-wealthy, the American Rescue Plan’s expanded Child Tax Credit benefits 39 million families and is estimated to cut child poverty in half.
Here is what people have to say about this tax cut for middle class families:
CNN: Child tax credit payments set to go out to tens of millions of families on Monday
- “More than $15 billion was sent to families of roughly 61 million children last month, according to the Treasury Department and Internal Revenue Service. Eligible households have received a total of more than $61 billion since the first monthly payment in July.”
Detroit Free Press: Child tax credit brings extra cash and some sanity to family life
- “Most families are automatically receiving monthly payments of up to $300 for children through age 5 or up to $250 each for older children without having to take any action. How much one receives depends on one’s income. ‘It’s helped me tremendously,’ [Anita] Cobb said, adding that she’d very much like to see the expanded child tax credit program extended.”
- “The family has used the extra money from the child tax credit to cover all sorts of bills — including what’s expected to add up to $525 in fees this academic year for Isaiah to participate in high school sports, roughly $400 for Amaria’s expenses as a cheerleader and a basketball player, and less than $100 for DaShaun’s expenses for band.”
Arizona Daily Star LTE: Grateful for the Child Tax Credit
- “I lost my job earlier this year and we had to make my wife’s income stretch. I want my kids to have the easiest childhood possible, but that’s a lot harder when only one person is making money. That’s why I want to thank Sen. Kelly for fighting for the child tax credit. During a global pandemic, the last thing I want to worry about is putting food on the table for my kids. Having that extra money doesn’t just give them an easier childhood; it gives me some peace of mind in these difficult times.”
Nevada Current: Child tax credits brings Nevada families more than $600 million since July
- “In October, more than 590,000 children in Nevada benefited from the credits, according to data released by the U.S. Treasury and Internal Revenue Service. Nationwide, more than $15 billion in advance child tax credit money was distributed during the month. In Nevada, $153 million was distributed to 352,000 qualified families, representing 594,000 eligible children. That follows the $150 million distributed to Nevada families in September.”
KRCU: Calls To Shore Up Child Tax Credit Long-Term In ‘Build Back Better’ Act
- “Families in Missouri have been receiving Child Tax Credit payments of $300 to $350 a month per child since the summer, and one local expert says making them permanent could benefit families long-term, across the nation. So far, 45% of Missouri families have reported using their payments for food, 33% for essential bills and 30% on other household expenditures.”
Published: Nov 15, 2021 | Last Modified: Dec 10, 2021