Maine Lawmakers Increase Aid for Families Experiencing Deep Poverty
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#2a1cb498 ver:0.25

U.S. families have benefited from the enhanced Child Tax Credit (CTC), according to a working paper published by Jonathan Fisher, Jake Schild, and David S. Johnson. The study found that the majority of families used the additional money to cover necessities such as child care, food, and school supplies. Around half of the households that received the expanded CTC spent the entire payment, with about half of those expenditures occurring within three months. Low-income households tended to allocate a higher percentage of their payment towards household necessities, while high-income households were more likely to save the money. The expanded CTC payments also helped families cope with rising prices, with approximately 70% of households reporting that the payments helped them manage the impac...

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