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many_adults_with_lower_income_prefer_monthly_child_tax_credit_payments.pdf
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🔗 Source: taxpolicycenter.org
📊 Size: 126 KB
👤 Author: Michael M
⬇️ Downloads: 629

Summary

Many Adults with Lower Income Prefer Monthly Child Tax Credit Payments. The American Rescue Plan Act temporarily changed the child tax credit (CTC) payment structure, delivering up to half the anticipated annual credit in monthly payments from July to December 2021. According to the Urban Institute's December 2021 Well-Being and Basic Needs Survey, 45% of nonelderly adults living with children who received the advanced CTC payments preferred monthly payments, while 28% had no preference, and 27% preferred a single payment as part of a tax refund. The preference for monthly payments was more common among lower-income families, with 54% of adults living with children under 18 with family income at or below the federal poverty level preferring monthly payments.

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Many Adults with Lower Income Prefer Monthly Child Tax Credit Payments.

Technical Information

  • File Format: PDF
  • File Size: 126 KB
  • Pages: 2
  • Language: EN
  • Author: Michael M
  • Total Downloads: 629
  • Last Updated: 1 month ago

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