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.
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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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