President Biden highlighted the tax credit’s importance in State of the Union speech
This session State Senator Sal DiDomenico has sponsored a bill that would create a Child and Family Tax Credit (CFTC) in Massachusetts. This topic is all over the national news after President Joe Biden used his State of the Union address to speak about the monumental benefits of the federal Child Tax Credit and the need to reinstate it across the country. DiDomenico is leading the charge to reestablish a similar kind of family tax credit in Massachusetts with his bill so we can provide more financial support to families throughout the Commonwealth.
DiDomenico’s CFTC bill would benefit children by simplifying the family tax credit process and increasing benefits for families that need support. This legislation would combine the existing Household Dependent Tax Credit and Dependent Care Tax Credit into a single credit (a CFTC), increasing the value to at least $600 per dependent child.
“I agree wholeheartedly with the President that we need to bring this tax credit back and I am proud to sponsor legislation that would establish a similar child and family tax credit in Massachusetts,” said Senator DiDomenico, who is Assistant Majority Leader of the Massachusetts Senate. “Low-income parents and children were some of the hardest hit individuals during the pandemic, and we saw how much the federal tax credit helped to slash child poverty and improve our residents’ lives. We must do everything we can to bring this program back to our state and across the country.”
The 2021 federal tax credit sent a monthly check to parents with young children that provided them with an economic cushion and helped cut the child poverty rate by nearly half in 2021.