House Raises Child Tax Credit to $3,000, But Only for a Year
By Megan Leonhardt
The American Rescue Plan’s changes to the child tax credit will cut child poverty by roughly half, according to the Center for Law and Social Policy. Poverty levels among Black children are expected to fall by 52% while those among Hispanic children will drop 45%, according to CLASP. “If made permanent, these improvements will have multi-generational, positive effects,” the organization said in a statement.
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Source URL: https://www.nbcphiladelphia.com/news/business/money-report/house-raises-child-tax-credit-to-3000-but-only-for-a-year/2723373/