The expansion of the Child Tax Credit in the American Rescue Plan is a monumental step in our nation’s efforts to combat child poverty.
Even prior to the pandemic, over 10 million children lived in poverty and in New York State that number hovered at 700,000 children. Since March 2020, that number has only grown because of the pandemic and related economic decline. Caregivers in these families go to bed each night not knowing where breakfast will come from the next day or how they will protect their children from eviction.
The monthly payments made possible through the expansion of the Child Tax Credit (CTC) this year will make a world of difference for families after being disproportionately hit by falling incomes and job loss during COVID-19. Estimates show the impact of the Child Tax Credit this year alone will result in cutting child poverty in half nationwide and lift about 250,000 New York children out of poverty.
However, one year of relief is simply not enough. We strongly believe that to be successful in ending child poverty and advancing racial equity in New York and nationwide, we must ensure that these enhanced CTC benefits are made permanent.
Join us in urging Congress to build on these important reforms and establish a permanent child allowance to help families meet basic and essential needs.