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New Study Shows Impact Of Child Tax Credit Payments For Families - YouTube
Channel: NBC News
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a new study shared exclusively with nbc
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news takes a closer look at just how
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much the child tax credit payments
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helped 36 million families during the
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covet pandemic according to children's
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health watch the credit payments
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decreased food insecurity by 26 percent
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but the study also shed light on the
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flaws of the program including what type
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of families were qualifying for the
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payments nbc news now correspondent
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dasha burns spoke to one mom who is
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calling on congress to extend the
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credits dasha good morning
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hey zinc like good morning look it's no
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secret that american families have been
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hit hard by record inflation more folks
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struggling to put food on the table to
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put gas in the tank but at the same time
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those millions of families who were
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receiving the child tax credit monthly
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payments for families with children they
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stopped receiving those payments now
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this study shared exclusively with nbc
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news showed just how much of a lifeline
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it was since those payments stopped food
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insecurity has increased by 12
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those payments ended because congress
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did not pass an extension of the child
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tax credit and west virginia senator joe
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manchin was the lone democrat to vote
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against that extension we spoke with a
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mom in west virginia about just how much
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those payments meant to her and what
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she's hoping her senator will do next
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watch
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[Applause]
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oh you want to drop all the way down
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okay kristen olson is a single mom to
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three boys her youngest george is four i
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just want him to know and to have the
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same opportunities as everybody else
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last year kristen felt like she had some
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room in her budget to give george those
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opportunities today she says is a
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different story so all of our bills keep
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going up
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gas right utilities water like
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everything my rent my rent went up 75
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dollars a month in january food and so
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then they take that three hundred
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dollars
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away
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grace and george are among nearly 36
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million families who received the
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expanded child tax credit in 2021
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when those payments stopped in january
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the struggle started we've been finding
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closed giveaways you took advantage of
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some food pantries yeah is that your
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first time going to a food chain yes and
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i've struggled before right i've been a
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single mom almost my whole life 24 years
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but it got to the point where we had no
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food
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new data from children's health watch
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shared exclusively with nbc news reveals
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just how much of a lifeline these
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payments were for families like this one
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finding the advanced child tax credit
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payments led to a reduction in food
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insufficiency children's health watch
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also finding racial and economic
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disparities among those who received
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payments
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while families were receiving the child
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tax credit payments in the fall there
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was a 26
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reduction in food insufficiency among
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families with children
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when we looked at that same data set in
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february
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after the monthly payments had expired
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for families what we saw was a 12
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increase in food insufficiency for
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families the fact that we saw a
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significant reduction in food insecurity
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really speaks to the fact that people
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were using this to afford basic needs i
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didn't used to have to pinch pennies
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like this kristin lives in west virginia
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where 93 percent of children qualified
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for the child tax credit these families
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haven't received a payment since
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december when congress failed to pass
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the build back better act the
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legislation would have made these
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payments permanent but chris's senator
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joe manchin was the lone democrat to
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stand in the way
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saying he views the credit as a
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disincentive to work i've been basically
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very clear on that i think there should
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be a work requirement and privately
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saying he worried people were using the
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money to buy drugs for chris who works
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multiple jobs that hurt to hear
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but it's like he's just saying you're
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not worth investing in when they're not
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giving us this money no your children
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aren't worth it what would getting the
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child tax credit back mean for your son
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george for george it would be going back
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to jiu jitsu easier school clothes it
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would mean a better new sneakers with
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congress back in session lawmakers are
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working to pass a slimmed down version
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of the president's buildback better
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agenda republican opponents of president
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biden's agenda say policies like the
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expanded child tax credit payments are
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contributing to the country's record
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levels of inflation because it increased
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spending now parents like chris are
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looking for relief more than ever when
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it seems less likely they'll get it from
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washington
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the work the side hustles all of it
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all of the hustle that you put in every
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day
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to provide for him what do you hope that
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turns into i just want him to to know
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that he has the power to you know live
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his best
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life now secondly despite all of those
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positive impacts the study also found
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disparities in who received the child
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tax credit for example immigrant mothers
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families with immigrant mothers were
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less likely to receive those payments
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latino families were less likely to
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receive them and families without active
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bank accounts were less likely to
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receive the child tax credit compared to
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families with active bank accounts
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children's health watch does make policy
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recommendations based on their findings
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and they are recommending that congress
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pass an extension of the child tax
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credit and of course that those
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disparities get addressed as well
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sinclair
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important reporting dasha burns thank
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you
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thanks for watching our youtube channel
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follow today's top stories and breaking
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news by downloading the nbc news app
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you
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