ABSTRACT

Child Tax Credit: Temporary Expansion for 2021 Under the American Rescue Plan Act of 2021 (ARPA; P.L. 117-2) [Updated March 15, 2021]   [open pdf - 1MB]

From the Document: "In recent years, there has been increased interest in providing direct benefits to families with children to reduce child poverty in the United States, sometimes in the form of tax benefits. [...] Some research has suggested that increasing the amount of the child tax credit that low-income families receive would substantially reduce child poverty, boost future earnings, and potentially improve future health and education outcomes. In the 116th Congress, there were several legislative proposals to expand the child tax credit, especially for lower-income families that tend to receive little or no benefit from the current credit. In the 117th Congress, a temporary one-year expansion of the child credit (for 2021) was included in the American Rescue Plan Act of 2021 (ARPA; P.L. [public law] 117-2). This Insight provides a summary of the child tax credit prior to ARPA and an overview of the temporary child credit expansion under ARPA for 2021."

Report Number:
CRS Insight, IN11613
Author:
Publisher:
Date:
2021-03-15
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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