Child Tax Credit Has a Critical Role in Helping Families Maintain Economic Stability

Economic assistance programs help provide low-income individuals and families with income stability, with benefits accruing not just to the families receiving assistance but to the economy as a whole. This paper reviews how cash assistance programs—the Earned Income Tax Credit (EITC), Child Tax Credit, and TANF—and other in-kind supports, such as SNAP, Medicaid, and housing assistance, serve as a backstop for unpredictable income, low income, and joblessness among low-income households who face economic transitions. The paper also highlights the critical role of the expanded Child Tax Credit, which provided families a monthly cash payment between July and December 2021.

Record Type: 
White Paper
Publication Date: 
April, 2022
Date: 
April 2022
Source: 
Partner Resources
Topics/Subtopics: 
  • Asset Building
    • Earned Income Tax Credit
  • Supportive Services
    • Child Care
    • Health/Behavioral Health Referrals and Supports
    • Housing Assistance
    • SNAP/Food Assistance
  • Special Populations
  • TANF Program Administration
  • Tribal TANF
  • TANF Policy and Legislation
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