Extended Tax Credit

“Lawmakers accomplished something commendable in 2021 when they expanded the Child Tax Credit (CTC) and cut child poverty in half, the largest drop ever recorded. Despite requests from President Biden to extend the credit enhancements, Congress allowed those measures to expire at the end of 2021. With the Census Bureau’s release of new poverty data covering 2022, we now know what happened when the credit expansion ended, and the results are not particularly surprising: the nation lost the dramatic gains made against child poverty in 2021.” 1

1. https://itep.org/lapse-of-expanded-child-tax-credit-led-to-unprecedented-rise-in-child-poverty-2023/#:~:text=Lawmakers%20accomplished%20something%20commendable%20in,at%20the%20end%20of%202021

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