child tax credit

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During the Pandemic, Child Poverty Rate Plummeted

More than 5M people emerged from poverty thanks to enhanced child tax credit

(Newser) - In 1993, the US child poverty rate came in at almost 28%, but last year, it fell to just 5.2%—a "stunning stat" that equates to a more than 80% drop over those three decades, per Axios . According to Census Bureau data released Tuesday, the 2021 figure also...

Child Poverty Rate Surges After Tax Credit Runs Out

'All of that progress that we made could now be lost,' analyst says

(Newser) - The number of children in America living in poverty jumped dramatically after just one month without the expanded child tax credit payments, according to a new study. Advocates fear the lapse in payments could unravel what they say were landmark achievements in poverty reduction, the AP reports. Columbia University's...

Expiration of Child Tax Credits Hits Home in West Virginia

Families say they will struggle without 'godsend'

(Newser) - For the first time in half a year, families on Friday are going without a monthly deposit from the child tax credit—a program that was intended to be part of President Biden's legacy but has emerged instead as a flash point over who is worthy of government support....

Some Families Opting Out of New Child Tax Credit

Money has started appearing in parents' bank accounts

(Newser) - Parents with children 17 and younger have started receiving a boost from the government in their bank accounts as part of the coronavirus relief package. For some families, the money could add up quickly: The measure provides for monthly payments of $300 for each child 5 and younger, and $250...

Parents, Check Your Accounts This Week

First of 6 monthly installments for enhanced child tax credit are due out Thursday

(Newser) - If you have kids and fit the eligibility requirements, you could see your first monthly payment from the US Treasury this week. The first installment to 39 million families, comprising 65 million kids, are set to be disseminated on Thursday, either via direct deposit or check. Most families will automatically...

Starting July 15, a Boost to Most Parents' Bank Accounts

Expanded tax credit under American Rescue Plan will deliver up to $300 per month per child

(Newser) - Welcome news for parents of the majority of America's kids: Your bank account is about to get a monthly boost. As part of the expanded tax credit under the Biden administration's American Rescue Plan, households including 88% of the nation's children will start seeing monthly payments on...

Plan Calls for Payments of $3K Per Child

The benefit would be higher for younger kids

(Newser) - Recurring payments from the IRS may be on tap for tens of millions of American families. Unnamed Democratic officials tell the Washington Post that a plan being drafted includes monthly payments to families of $300 per child younger than six and $250 per child aged six to 17, amounting to...

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