Child discount 2021 update – Community News
Stimulus Check

Child discount 2021 update

CHILDREN TAX CREDITS REDUCED CHILD POVERTY

Much has been said in recent months about how child discounts have reduced child poverty.

In just one monthly payment, after the policy was passed in March 2021, the expanded credits reduced child poverty by 25 percent, Vox said.

If those higher payments continue, it could reduce child poverty even further — by more than 40 percent in a typical year, according to the Urban Institute.

“This is a huge drop in a very short time frame,” Vox noted.

“According to the Brookings Institution, child poverty rates fell by 26 percent between 2009 and 2019, meaning the tax credit reached in one month what it would have taken ten years to achieve with other policies.”