Reuters
Those are some of the ways about 39 million U.S. households could benefit once they start receiving monthly federal checks Thursday as part of a massive expansion of the child tax credit. The Center on Poverty and Social Policy at Columbia University estimates that the expansion can reduce the U.S. child poverty rate by up to 45%.
The approach is notable both for its wide reach - the checks issued this week will reach nearly 90% of U.S. children, according to Internal Revenue Service estimates - and for distributing half the money monthly instead of in one lump at tax time.
“It’s really giving families the help that they need in the moment to help meet some of their basic needs,” said Mario Cardona, chief of policy and practice for Child Care Aware of America, an advocacy group.
