The improved and expanded monthly Child Tax Credit (CTC) has been one of the most successful and popular American Rescue Plan Act programs, providing flexibility to parents to buy food, make rent, afford child care, and other routine but essential family expenses. It dramatically lowered the number of U.S. children living in poverty — and the ripple effect made our economy stronger by increasing spending in local economies and supporting jobs as families use the money to purchase food, pay bills, and cover school and childcare expenses.
National studies confirm CTC payments succeeded in reducing adversity for kids and improving economic stability across the country. And in MECEP’s new report, How the Child Tax Credit was spent in Maine, we can now see specifically how it benefited Maine families as well.
