West Virginia MetroNews – Last year’s child tax credit expansion provided families with a revenue source for routine expenses and essential items as well as funding for emergencies and addressing debt, according to a recent report.
Read the full article.
The Brookings Institution’s Global Economy and Development program released a study detailing the effects of the expanded child tax credit earlier this month. The authors noted common uses for the child tax credit and how the program impacted financial security.
Families were eligible to receive up to $300 per child until last December when Congress allowed the initiative to expire. Lawmakers approved the child tax credit expansion in March 2021 as part of the $1.9 trillion American Rescue Plan.