The Consequences of the 2021 Child Tax Credit Expansion: An Introduction to the Volume

Megan Curran, Hilary Hoynes and Zachary Parolin

The ANNALS of the American Academy of Political and Social Science, 2023, vol. 710, issue 1, 8-18

Abstract: The American Rescue Plan Act of 2021 temporarily transformed the Child Tax Credit (CTC) into a more generous cash benefit that was more frequently distributed to families with children in the U.S. From July to December 2021, the families of more than 90 percent of U.S. children received monthly cash payments of up to $250 per child (or $300 per young child under six); and at tax time in 2022, families received lump-sum tax refunds of up to $1,500 per child (or $1,800 per young child). Many of these families had not previously had access to the full credit because their incomes were too low. The temporary expansion was not made permanent, and the CTC returned to its pre-expansion structure in 2022. This volume evaluates the effects of the 2021 CTC expansion, and this introduction provides broad context around the expansion, elaborates on the goals for the volume, and previews the volume’s subsequent contributions.

Keywords: Child Tax Credit; public policy; child poverty; safety net (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/00027162241272327 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:anname:v:710:y:2023:i:1:p:8-18

DOI: 10.1177/00027162241272327

Access Statistics for this article

More articles in The ANNALS of the American Academy of Political and Social Science
Bibliographic data for series maintained by SAGE Publications ().