The U.S. has a long tradition of favoring old people over kids. A new paper investigates why.
child tax credit
In one month, the child poverty rate increased from 12.1 to 17 percent, the highest rate seen since Dec. 2020. Black and Latino children experienced an even higher rate of poverty.
January is the first month since July 2021 that more than 36 million families in the U.S. did not receive money from the expanded child tax credit program. For some, the consequences are already dire.
The government provided Americans with a vital financial lifeline during the pandemic, including through the Child Tax Credit. The help improved lives – but for many it still wasn't enough.
Because the Build Back Better agenda was not passed by the Senate before the end of the year, the last payment of the expanded child tax credit program went out this month.
Because an extension of the child tax credit is tied in with President Biden's Build Back Better social spending plan, it remains unclear whether the monthly payments will continue beyond this year.
Early data shows that after the child tax credit payments started going out this summer, the number of households with children who experience food insufficiency dropped.
The first monthly enhanced child tax credit payment has landed, but some families are now opting out. Here's how to decide whether it makes sense for you.
"Be alert to criminals who ask you, by phone, email, text – or even on social media, to verify your information," the IRS cautions.
The first monthly payments under the expanded child tax credit were disbursed on Thursday. The White House says relief is on the way to the families of nearly 60 million children.