Paying the child tax credit forward
It’s a terrific policy for fighting child poverty. But my family doesn’t need the money.
Last week I received the second installment of the federal child tax credit in my bank account.
Since 1998, families under a certain income level have been eligible for CTC funds for each dependent child. The American Rescue Plan—the COVID economic stimulus enacted this March—both significantly expanded the credit for one year and directed the IRS to pay half of it to families in advance, in the form of monthly deposits.
This program has been touted by the White House as “a needed tax relief for all working families,” and I appreciate what it will do for so many families still struggling through the pandemic and the economic woes that have come with it. With this money, children will have better access to food, housing, health care, and clothes for school.
