Page 2 - Christopher Wimer News Today

The child poverty rate more than doubled in 2022 as Covid-era aid programs expired, erasing major economic gains for the poorest Americans.

Fourteen states now provide Child Tax Credits to reduce poverty, boost economic security, and invest in children. This year alone, lawmakers in three states created new Child Tax Credits while lawmakers in seven states expanded existing credits. To maximize impact, lawmakers should consider making their credits fully refundable, not including an earnings requirement, setting a maximum amount per child instead of per household, setting state-specific phase-out ranges that target low- and middle-i...

Bringing back the enhanced Child Tax Credit was included in the president's budget this month.

Bringing back the enhanced Child Tax Credit was included in the president's budget this month.

Parents still have time to submit their taxes and make all of their qualifying benefit claims, including a $750 direct payment in Child Tax Credit, even though tax season is over.

A measure that accounts for all federal subsidies showed that fewer people experienced severe economic hardship, while health insurance coverage rose.

A recent study found that the monthly distribution of tax credit payments kept 1 in 10 children from experiencing a “spell of poverty” throughout the year.

Uneven inflation has hurt poor households and redistributed wealth to the rich

After months and months of the ongoing debate over the various plans and proposals being considered in Washington D.C., it’s rare to see a new argument...

What NYC Families Need To Know About The New Child Tax Credit Payments Coming Their Way arrow New changes to the federal child tax credit policy could mean that for the first time ever, an estimated 275,000 to 400,000 of New York City’s neediest families will be able to join the program that will send families monthly cash payments starting July 15th. Under President Joe Biden’s American Rescue Plan, the annual child tax credit amount increased from $2,000 per child over the age o...