The Vermont Child Tax Credit Isn’t Enough
I was so proud to see that Vermont House adopted its own version of the statewide child tax credit.
This is estimated to impact approximately 33,000 Vermont children at a time when rising inflation is negatively affecting the daily lives of average Vermonters. And we know for a fact that these credits help.
In 2021, the expanded federal child tax credit was a financial lifeline for American children living in poverty. The impact was immediate. Child poverty dropped by 40% after a month of payments, and research shows recipient families spent that money on rent, food and children’s clothing. Child tax credit recipients continued to work, led healthier lives, invested more in their children’s education and were less likely to take payday loans.
But some lawmakers have stopped an extension of child tax credit payments. As a result, child poverty jumped 41% after payments stopped. In addition, many households benefiting from the child tax credit had to quit their jobs because they could no longer afford childcare.
I was so grateful to see Rep. Welch supporting the Vermont Child Tax Credit. I would like to see Senator Leahy and Senator Sanders show equal support for children living in poverty. I call Sens. Leahy and Sanders to do everything possible to extend the National Child Tax Credit with a permanent full refund and resume monthly payments immediately.
With inflation making it harder for families to make ends meet, what more do lawmakers need to do the right thing?
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