The Census Bureau just released national poverty, income, and insurance data for 2023. It’s important to understand income and health insurance trends, but it’s especially important now since Congress will take up major tax legislation in 2025.
One thing we know for sure is that when the Child Tax Credit (CTC) was expanded in 2021, child poverty decreased by 46% overall, with Black and Hispanic/Latino child poverty falling by 6.3 percentage points in each community, impacting 716,000 Black children and 1.2 million Hispanic children. The new data shows that in 2023, the CTC lifted 2.4 million people above the federal poverty line―while important, falling far short of the 5.4 million lifted above the federal poverty line in 2021 by expanded monthly Child Tax Credit payments that included all children in low-income families.
Click here to send a direct message to Congress to expand the Child Tax Credit today.
Many people are facing food and housing insecurity, challenges with high child care costs, and dealing with other hardships that make it harder to make ends meet. Expanding the Child Tax Credit fixes a major flaw in current law: over 18 million children and their families are excluded from the full credit because their parents’ income is too low.
You read that right. Families where a parent can’t work due to illness or being laid off, cannot qualify for the Child Tax Credit at all. And many parents who work at low wages cannot get the full CTC. A single parent earning $15,000 a year and who has two children, will receive less than a family with a parent who has a higher paying job. This is a flaw that does nothing but exacerbate inequity and accelerate the racial wealth gap.
Instead of cutting investments in key programs and services, Congress must prioritize funding for human needs and that means passing an expanded Child Tax Credit that reaches the very poorest households.
Click here to send a direct message to Congress to expand the Child Tax Credit today.
View this webinar here. View the slides here.
Critical gains for children have been made with the passage of the American Rescue Plan. But Congress needs to make ongoing investments to ensure our children’s futures aren’t permanently damaged and to shrink the gaps between poor and non-poor children and between white children and children of color. This webinar will educate advocates across the nation about the critical importance of enacting or building upon multiple provisions in President Biden’s investment plans and proposed budget.
You’ll learn from experts around the country who will illustrate the need for child care, the expanded Child Tax Credit, investment in education, and services for youth. You’ll hear from Rev. Dr. Starsky Wilson, President and CEO of the Children’s Defense Fund, about the health and economic crises triggered by the COVID-19 pandemic and how they have exacerbated long-standing problems for children and their families. Deborah Weinstein, CHN’s Executive Director, will describe what’s before Congress and action steps advocates can take. Deborah Stein of the Partnership for America’s Children will be our moderator, and a panel of experts will take your questions. The webinar is a collaborative effort with the Partnership for America’s Children, and our moderator, Deborah Stein, is the Partnership’s Network Director.
Even if you can’t attend, be sure to register to receive a recording of the webinar and resources. This webinar will be captioned.