GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
Id love to see a child tax credit thats $5,000 per child.
A higher tax credit would help working families.
The program helped reducechildhood poverty.
To help offset financial pressures, the Child Tax Credit is a tool that helps parents.
A tax credit increase to $5,000 could make a significant impact and benefit families in multiple ways.
Since 1997, the CTC was designed and further modified to help low to middle-income families, McFarlane said.
Inflation is another concern experts have with increasing the Child Tax Credit.
The spending generated by those credits would likely be stimulative for growth and potentially for inflation.
Like every other policy choice, modifications to the child tax credit comes with trade-offs.
Burns said the following information is needed before determining the impact.
More From GOBankingRates
Share This Article:
