Many Americans
took a double whammy to the pocketbook this year: Prices for things like food
and rent rose, and federal pandemic aid continued to peter out. But a string of
states took a cue from one of those relief measures — the expanded federal
child tax credit — and are stepping in to help bridge the gap.
That tax credit
was a pandemic success story. Enacted in 2021, it cut child poverty in half
before it expired at the end of that year, and poverty rates shot right back
up.
Since then, the
number of states that have created their own permanent child tax credit has
doubled.
That's been a
huge help for Ashley Andreas and her family in White River Junction, Vt. She
and her partner were lucky enough to buy a house before prices skyrocketed, and
both of them work. But it's still not easy with two kids and the high cost of
child care.
"It's
health insurance, it's vehicles breaking down," Andreas says. "You're
always just kind of one accident away from draining your savings account and
being in debt."
Andreas hadn't
realized Vermont passed a new $1,000 child tax credit until the family got
their tax refund this past April. "It was like, wow, this was so much more
than we were expecting," she says.
The credit
applies to children under 6, which includes Andreas' younger daughter. It was
just in time. Andreas' partner got Lyme disease, which led to a slew of medical
bills. And she says she was laid off this year; her new job is only part time.
She says $1,000
might not seem like much, but it can let them keep some extras for the kids
that they'd hate to go without.
"It is,
you know, a year's worth of gymnastics and ... quality holiday or summer camps
that the kids can go to," Andreas says.
States that
already had child tax credits expanded them in 2023
Vermont is one
of 14 states that now have a child tax credit — 10 of them either created or
expanded the benefit in 2023. Eleven states offer the full credit to families
with the lowest or even no income.
Some state
credits are available for immigrants, even those without legal status. Vermont
made that change to help the migrant workers who are the backbone of its dairy
industry. Other states peg the credit to inflation.
Kayla Kelechian
is pleased that New York state just expanded its credit to include children
under age 4. Her oldest child is 3, and she's expecting her second soon.
"We need a
new stroller" to hold both of them, she says.
The credit is
small, only $330, and New York lawmakers are talking about expanding it again.
But Kelechian hopes even that amount can help her family "thrive instead
of just survive." After the stroller, she imagines using the annual credit
to "make that one extra payment, [or] I can put that in savings," or
maybe enroll her son in an extracurricular activity.
State tax credits vary widely. Vermont
offers the full amount to households making up to $125,000, with partial credit
up to $175,000. And Minnesota sets a limit at households making less than
$29,500 for single filers, or $35,000 for couples filing jointly. But its new
credit is the country's largest: $1,750 for each child under 18.
Minister JaNaé Bates helped push for
that. She's with the nonprofit Isaiah, which advocates for racial justice, and
says the new benefit is sorely needed.
"The unemployment rate has
dropped drastically, which is a great thing, but we also are seeing that more
and more families have two or three jobs, where one job should be enough,"
she says, noting that in some cases both parents have multiple jobs.
Minnesota's governor predicts
the new tax credit will cut child poverty by a third. And Bates says
inspiration absolutely came from the sweeping financial aid during the
pandemic, which allowed "people to have a little bit more imagination
about what it means to care for each other."
Expanding these benefits in states has bipartisan support
In 2022, Congress tried and failed to
revive its expanded child tax credit. Kevin Corinth, with the conservative
American Enterprise Institute, says one concern among Republicans is that with a permanent credit, some parents would
stop working.
"While the state-specific child
tax credits are smaller than what we've seen at the federal level,"
Corinth says, "we still would likely see decreasing employment of parents,
and that could offset some of the initial poverty decrease."
But that's been less of an issue at
the state level, even if most states that have passed child tax credits are led
by Democrats.
"Even in blue states, we're often
seeing tax credits passing with bipartisan support," says Adam Ruben of
the left-leaning Economic Security Project, which supports more such benefits.
One advocate in Maine told Ruben that
the Republican committee chair likened expanding a tax credit to a tax cut.
"And the advocate said, 'Yeah, it's a tax cut for working families.' And
the Republican guy goes, 'Well, we're for tax cuts.' "
Now that more states have passed these
measures, they are focused on getting the word out. Many families who qualify
for new child tax credits may not make enough to pay any taxes, and so may not
be used to filing a tax return.
The big push is to make sure they do —
so people can claim these new benefits in 2024.
0 Comments