The Child Tax Credit is set to expire on December 31st unless the Senate acts.
John,
Right now, about 60 million families are receiving monthly Child Tax Credit payments between $250 and $300 per child thanks to legislation passed by Democrats last spring and signed into law by President Biden.
This program is on track to cut childhood poverty nearly in half this year and going forward1 – but it is set to expire on December 31st unless Congress acts.
The final monthly CTC payment of 2021 landed in bank accounts on December 15th. Unless Congress acts, families will miss out on this critical monthly assistance starting in January, right after the holidays and just as winter heating bills are kicking in for much of the country. If the Senate fails to extend this program, nearly 10 million children could fall back into poverty next year.2
The Build Back Better Act, which has already passed the House, would keep these enhanced payments going for an additional year by making the wealthy and corporations pay a fairer share of taxes.
Now it’s time for the Senate to follow suit so that this critical program continues.
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