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Fewer groceries, more debt: Families brace for first month without child tax payments

American Rescue Plan
Columbia University
Columbia University’s Center on Poverty & Social Policy
Census Bureau
the Washington Center for Equitable Growth
American Enterprise Institute
the University of Chicago’s Harris School of Public Policy
the Supplemental Nutrition Assistance Program
the Niskanen Center
Build Back

Melissa Roberts
Zachary Parolin
Alix Gould-Werth
Joe Manchin III
Scott Winship
Nathaniel Miller
screwed.”Bruce Meyer
Samuel Hammond
Suzan DelBene
Sherrod Brown
Caroline Nasella

Congressional Democrats

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San Antonio

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Positivity     47.00%   
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The New York Times
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But proponents say it had an immediate and positive impact: slashing child poverty rates by about 30 percent each month and reducing food hardship for low-income households with children by about 25 percent, according to researchers at Columbia University.Most parents use child tax credit on food, bills and other necessities, survey findsFor now, the future of the monthly payments remains in limbo, raising concerns among some economists that recent gains in food security and household stability will be quickly reversed, particularly as a resurgence of coronavirus cases casts a pall over the economic recovery.“It’s safe to say that with this program gone, child poverty will certainly increase,” said Zachary Parolin, a researcher at Columbia University’s Center on Poverty & Social Policy. “Parents were using this monthly payment right away — to buy food, cover rent and pay off debt — so when January 15th rolls around and that $300 check isn’t there, a lot of families are going to be in more difficult economic conditions.”Last year’s expansion of the child tax credit not only increased the amount of payments — from $2,000 a year to as much as $3,600 per child — but also started disbursing the money in monthly installments instead of a lump sum during tax season.For many households that received monthly checks, the money had become a source of additional income on which they had grown to rely. Other said they’re dipping into savings or leaving some bills unpaid.Without the boosted child tax credit, nearly 10 million children could fall deeper into poverty“Families are facing extra financial pressure just as an omicron surge leads to more illnesses, school cancellations and lost income from work,” said Alix Gould-Werth, director of family economic security policy at the Washington Center for Equitable Growth, a left-leaning think tank.

As said here by Abha Bhattarai