Rep. Clark releases new data on the Child Tax Credit’s impact on Massachusetts families

  U.S Representative Katherine Clark recently highlighted a new fact sheet from the U.S. Congress’s Joint Economic Committee that outlines how the Democrats’ Child Tax Credit (CTC) is already meeting the urgent needs of Massachusetts families by helping parents make ends meet and positioning the economy for stronger growth for generations to come.

  “The American Rescue Plan’s tax cut for families is working! This pandemic and its economic fallout have brought many Massachusetts families to their breaking point but since Democrats passed the American Rescue Plan last March, the extended Child Tax Credit – one of the largest tax cuts for families in U.S. history – has helped provide support to over 70,000 children in Massachusetts’ Fifth District,” said Clark. “Through the Build Back Better Act, House Democrats are continuing our work to help families and our economy to recover and thrive. The Child Tax Credit and the Build Back Better Act put the needs of families first and are key to building a just, inclusive, and equitable America.”

  In October, new CTC data shows, 72,000 children received payments totaling more than $24.3 million in the Fifth District. Another monthly payment will be sent on November 15. These successes prove the need to extend the expanded CTC through the Build Back Better Act. As outlined in a newly released White House fact sheet, the historic investments called for in the framework would bolster financial security and spur economic growth in Massachusetts by reducing taxes on the middle class and those striving to break into it.

  The American Rescue Plan was signed into law in March 2020 to help families recover from the COVID-19 pandemic. The Build Back Better Act extends the tax cut for families by continuing to provide families $300 per month per child under six or $250 per month per child ages six to 17. Critically, the Build Back Better Act also includes permanent refundability for the CTC, meaning that the neediest families will continue to receive the full CTC over the long run.