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Parents and children celebrate new monthly Child Tax Credit payments and urge Congress to make them permanent outside Sen. Chuck Schumer’s (D-N.Y.) home on July 12, 2021 in Brooklyn, New York.
Ample research indicates that providing additional income to families with low resources yields significant, lasting benefits for young children’s health, education, and future earnings.
The House-passed bipartisan tax bill would expand the Child Tax Credit for 16 million children in families with low incomes—including 5.8 million young children (under age six)—in its first year, bringing them up to or closer to the full $2,000-per-child amount that children in higher-income families receive. The Senate should pass it without further delay.
Young children of all races and ethnicities would benefit from the bill’s Child Tax Credit expansion. Overall, the expansion would deliver a larger credit to 1 in 4 children under age six. It would benefit even larger shares of Black, Latino, or American Indian or Alaska Native young children, whose parents are overrepresented in low-paid work and may face more limited economic opportunities due to historical and ongoing discrimination and other structural barriers.
Looking at these children under six, we estimate that:
The expanded Child Tax Credit would provide meaningful support to families. Consider, for example, a married couple with a kindergartner, a toddler, and a newborn. One parent earns $30,000 as a cashier while the other parent stays home to care for their children. The expansion would boost this family’s credit by $1,275 in the first year, helping them afford groceries, utility bills, and other necessary expenses.
Ample research indicates that providing additional income to families with low resources yields significant, lasting benefits for young children’s health, education, and future earnings. The Senate has an opportunity to help 1 in 4 children under age six. Lawmakers should act quickly to pass the bipartisan tax package.
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The House-passed bipartisan tax bill would expand the Child Tax Credit for 16 million children in families with low incomes—including 5.8 million young children (under age six)—in its first year, bringing them up to or closer to the full $2,000-per-child amount that children in higher-income families receive. The Senate should pass it without further delay.
Young children of all races and ethnicities would benefit from the bill’s Child Tax Credit expansion. Overall, the expansion would deliver a larger credit to 1 in 4 children under age six. It would benefit even larger shares of Black, Latino, or American Indian or Alaska Native young children, whose parents are overrepresented in low-paid work and may face more limited economic opportunities due to historical and ongoing discrimination and other structural barriers.
Looking at these children under six, we estimate that:
The expanded Child Tax Credit would provide meaningful support to families. Consider, for example, a married couple with a kindergartner, a toddler, and a newborn. One parent earns $30,000 as a cashier while the other parent stays home to care for their children. The expansion would boost this family’s credit by $1,275 in the first year, helping them afford groceries, utility bills, and other necessary expenses.
Ample research indicates that providing additional income to families with low resources yields significant, lasting benefits for young children’s health, education, and future earnings. The Senate has an opportunity to help 1 in 4 children under age six. Lawmakers should act quickly to pass the bipartisan tax package.
The House-passed bipartisan tax bill would expand the Child Tax Credit for 16 million children in families with low incomes—including 5.8 million young children (under age six)—in its first year, bringing them up to or closer to the full $2,000-per-child amount that children in higher-income families receive. The Senate should pass it without further delay.
Young children of all races and ethnicities would benefit from the bill’s Child Tax Credit expansion. Overall, the expansion would deliver a larger credit to 1 in 4 children under age six. It would benefit even larger shares of Black, Latino, or American Indian or Alaska Native young children, whose parents are overrepresented in low-paid work and may face more limited economic opportunities due to historical and ongoing discrimination and other structural barriers.
Looking at these children under six, we estimate that:
The expanded Child Tax Credit would provide meaningful support to families. Consider, for example, a married couple with a kindergartner, a toddler, and a newborn. One parent earns $30,000 as a cashier while the other parent stays home to care for their children. The expansion would boost this family’s credit by $1,275 in the first year, helping them afford groceries, utility bills, and other necessary expenses.
Ample research indicates that providing additional income to families with low resources yields significant, lasting benefits for young children’s health, education, and future earnings. The Senate has an opportunity to help 1 in 4 children under age six. Lawmakers should act quickly to pass the bipartisan tax package.