Spending Responses to the Child Tax Credit Expansions-Reference-Cited by-同舟云学术

Spending Responses to the Child Tax Credit Expansions

Published:2023-11 Issue:1 Volume:710 Page:108-123
ISSN:0002-7162
Container-title:The ANNALS of the American Academy of Political and Social Science
language:en
Short-container-title:The ANNALS of the American Academy of Political and Social Science

Author:

Fisher Jonathan,Schild Jake,Johnson David S.

Abstract

This article summarizes research literature that has studied how people used the advance Child Tax Credit (CTC) payments that were disbursed by the IRS in 2021. Four primary findings emerge. The ways in which families used the advance CTC payments varied: during the first few months the payments were being distributed, families reported paying down debt more frequently; and in the final months of the payments, families reported more frequent spending. Families primarily used the monthly CTC on household necessities and child-related spending. There was heterogeneity in the spending response across income and race. Lastly, the CTC helped families deal with rising inflation. We discuss these four findings from the extant research in detail.

Publisher

SAGE Publications

Link

https://journals.sagepub.com/doi/pdf/10.1177/00027162241263180

Reference37 articles.

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3. Brugger Laura, Roll Stephen, Hamilton Leah, Baughman Allyson, Comeau Meg, Jarzombek Candace, Parker Caroline. 2023. “It helped us more than I could have imagined”: How the 2021 expanded Child Tax Credit supported families raising children with disabilities. St. Louis, MO: Social Policy Institute at Washington University in St. Louis. Available from openscholarship.wustl.edu.

4. Burnside Ashley, Fuller Bruce, Zhang Qifan. 12 September 2022. How parents use the Child Tax Credit, and implications of ended monthly payments: Key findings, July 2022 continental U.S. survey. Washington, DC: Center for Law and Social Policy. Available from www.clasp.org.

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1. The Potential Long-Run Impact of a Permanently Expanded Child Tax Credit;The ANNALS of the American Academy of Political and Social Science;2023-11

2. The Effects of the 2021 Child Tax Credit on Racial and Ethnic Inequalities in Well-Being;The ANNALS of the American Academy of Political and Social Science;2023-11

3. The Effects of the 2021 Child Tax Credit on Child Developmental Outcomes;The ANNALS of the American Academy of Political and Social Science;2023-11