To the Editor:
As families face rising costs, it’s important to remember how important the expanded Child Tax Credit (CTC) has been for children and families.
According to a recent study from the Brookings Institution, the 2021 changes to the CTC, including sending it as a monthly payment, had a profound impact. Child poverty dropped by 40%. CTC recipients lived healthier lives, invested more in their children’s education and were less likely to rely on payday loans. Families spent their CTC payments on rent, food and clothes for their kids – the same costs going up for us all now.
But some lawmakers stopped an extension of the CTC payments. As a result, 3.7 million children fell below the poverty line in January. And 1.4 million CTC households have left their jobs because they can no longer afford childcare.
Economists say extending the CTC is critical to help families facing rising costs from inflation. How much more evidence do lawmakers need before they do the right thing?
I call on our members of Congress to extend the CTC with permanent full refundability and resume the monthly payments immediately.
Candace Baker
Camby
