As Congress considers tax reforms, the child tax credit stands out as a vital anti-poverty measure. This credit significantly reduces tax bills for families, yet its existing structure overlooks many impoverished children. The 2021 temporary expansion of the CTC showcased its efficacy, with benefits reaching those with little or no income. This shift led to a 46% drop in child poverty rates nationally, demonstrating that when properly structured, the CTC can transform lives and bolster local economies. However, the expiration of this expansion saw troubling reversals in child poverty rates, underscoring the urgency of policy reform.
Child poverty is a policy choice and the child tax credit is a proven solution to the problem.
Expanding the child tax credit is critical to reducing child poverty, having been proven effective in lifting millions of children above the poverty line.
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