WASHINGTON– Colorado U.S. Senator Michael Bennet addressed data from the U.S. Census Bureau’s Household Pulse Survey that detailed how economic hardship declined in families with children after the payments from the Child Tax Credit in July.
Bennet said, “The improvements to the CTC ensure parents can use the benefit for what they need that month, whether it be groceries, rent, child care, or – especially during back-to-school season – school-related expenses. The security provided by the expanded CTC is exactly why I’m urging an extension of the credit for years to come.”
Around 35 million families received the first monthly payment of the expanded CTC in mid-July. 57% of families used their CTC payment for school supplies, tuition, tutoring, school transportation, or afterschool activities. 47% of families used their payments to purchase food, while 17% of families with at least one child under age 5 spent their CTC on child care.
The CTC has the potential to cut child poverty in half which has the potential to benefit 90% of American children.
To read the Census Bureau’s full analysis, visit the website here.