As families face rising costs, it’s important to remember how crucial the expanded Child Tax Credit (CTC) has been for children and families.
According to a recent study by the Brookings Institution, changes to CTC in 2021, including sending it as a monthly payment, have had a profound impact. Child poverty has fallen by 40%.
CLC recipients led healthier lives, invested more in their children’s education, and were less likely to rely on payday loans. Families spent their CTC payments on their children’s rent, food and clothing – the same costs that are rising for all of us now.
But some lawmakers have halted an extension of CTC payments. As a result, 3.7 million children fell below the poverty line in January. And 1.4 million CTC households have seen their parents leave their jobs because they can no longer afford childcare.
Economists say expanding the CTC is key to helping families facing rising costs from inflation. How much more evidence do lawmakers need before they do the right thing?
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RESULTS The Oklahoma Volunteers call on U.S. Representatives Kevin Hern, Markwayne Mullin, Frank Lucas, Tom Cole and Stephanie Bice and Sens. Jim Inhofe and James Lankford to extend the CTC with a permanent full refund and resume monthly payments immediately.
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