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The Impact of the 2021 Expanded Child Tax Credit on Child Poverty [1]
['Us Census Bureau', 'Kalee Burns', 'Liana Fox']
Date: 2023-05-02 08:52:05.346000-04:00
The Census Bureau produces the Supplemental Poverty Measure annually. This measure of poverty incorporates money income and non-cash benefits, such as nutritional assistance programs, housing subsidies, tax credits, and stimulus payments, while subtracting out necessary expenses such as income and payroll taxes, work, and medical expenses. This paper examines the impact of the expanded Child Tax Credit on child poverty. We find that the Child Tax Credit lifted 2.9 million children out of poverty. Additionally, we find that the 2021 expansion of the Child Tax Credit accounted for 2.1 million of these 2.9 million children lifted above the poverty line.
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[1] Url:
https://www.census.gov/library/working-papers/2022/demo/SEHSD-wp2022-24.html#:~:text=We%20find%20that%20the%20Child,lifted%20above%20the%20poverty%20line.
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