Goodbye 'godsend': Families going without monthly deposit as child tax credit program expires

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For the first time in half a year, families today are going without a monthly deposit from the child tax credit.

With the final child tax credit payment going out last month, American parents should be looking out for a letter from the IRS. The video explains the key thing feds may be looking for from you.

"You're going to have to learn to adapt," said Roberts, who worked as an auto dealer for five decades."You never really dreamed that everything would all of a sudden explode. You go down and get a package of hamburger and it's $7-8 a pound." Manchin has supported some form of a work requirement for people receiving the payment, out of concern that automatic government aid could cause people to quit their jobs. Yet his primary objection, in a written statement last month, sidestepped that issue as he expressed concerns about inflation and that a one-year extension masked the true costs of a tax credit that could become permanent.

There are separate benefits in terms of improving the outcomes for impoverished children, whose families could not previously access the full tax credit because their earnings were too low. An analysis by the Urban Institute estimated that extending the credit as developed by the Biden administration would cut child poverty by 40%.

Academics who study the tax credit are torn on how a permanent program would affect the economy and child welfare.

 

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GO TO F WORK !!!!!!

Time to go back to work

It was good while it lasted....

Goodbye socialist payments!!! Get off your collective asses and go work for your money!!! People are using the “pandemic” as an excuse not to work! Enough is enough!

How about the singles who cant afford to pay these expensive rooms? Literally everything about bay area is price gouging.

Awesome 👍🏼

Nothing wrong with standing on your own two feet.

How were they surviving before?

The cash can't go on forever.

This is not a godsend. This is how govt controls and eventually breaks good people.

👊🏼💥👏🏼👏🏼👏🏼 Get your Asses back to work

loading all the commenters with generational wealth telling struggling parents to “gEt a jOb”

Oop. Y’all was surviving just fine before that extra money too. 🤭

And millions of single people or people with kids too old went without any extra money for months and survived just fine 💁🏽‍♀️

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What If Congress Made The Child Tax Credit Taxable?I am author of the book 'Caring for Our Parents' and senior fellow at The Urban Institute, where I am affiliated with the Tax Policy Center and the Program on Retirement Policy. I also write a tax and budget policy blog, TaxVox, which you may read at Forbes.com or at http://taxvox.taxpolicycenter.org/ Before joining Urban, I was a senior correspondent in the Washington bureau of Business Week.
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