The Center on Budget and Policy Priorities reports on the status of the Child Tax Credit in December. The credit enhancements, including making the credit fully refundable, increasing the credit’s maximum value, and allowing families to claim 17-year-olds, have infused more than 39 million households with monthly income since July 2021. As the credit expansions were only slated through 2021, those enhancements will be rolled back if the Build Back Better legislation calling for their extension does not pass. CBPP notes that nearly three-fifths of households use their credit in part to offset food costs, and that the loss of this credit would trigger a widening of racial-ethnic gaps in child poverty. About 90 percent of Maine children have been eligible for the expanded credit in 2021, translating to 229,000 Mainers under 18 who would lose out in its absence.
You must be logged in to post a comment.