Credit provided $197.4 million to families living in NY-26 from July through December
On Dec. 15, families will receive the final advance Child Tax Credit payment authorized under the American Rescue Plan. Congressman Brian Higgins recently voted to extend the enhanced Child Tax Credit through the Build Back Better Act and is calling on the Senate to do the same.
According to a recent report by the Joint Economic Committee, 131,000 children living in NY-26 benefited from the advance Child Tax Credit, which delivered $197.4 million to local families over the past six months.
“By expanding the Child Tax Credit and changing delivery of the credit from annual to monthly, hardworking families across the income spectrum have been able to better afford basic costs of living and plan for the future,” said Higgins, who noted 91% of families living in the district were eligible to receive the Child Tax Credit.
A press release noted, “In an online survey issued by Congressman Higgins’ office, many Western New Yorkers reported the Child Tax Credit helped to pay for expenses such as food, child care, clothing and other bills.”
His team cited resident examples.
One Cheektowaga dad said, “It almost completely offsets our child care costs during the school year. It makes budgeting so much easier.”
A father of four living in Buffalo, who reports using the tax credit to pay for food, bills and to pay down credit card debt, said receiving the credit monthly has “lowered financial stress.”
A mother residing in Tonawanda indicated the credit is helping to improve the quality of life for her family: “The child tax credit has paid fully for our kids' afterschool program. Because we haven't had to spend money on this, we've had more money to spend on going out for a family dinner and even attended a Bills game! I hope this can continue to support families and help us have more discretionary spending.”
Under the American Rescue Plan, the Child Tax Credit was increased to $3,600 per child for children up to age 5, and $3,000 for children ages 6 to 17. Families were eligible to receive half of the expanded Child Tax Credit in monthly payments delivered to their bank accounts. For those who choose this option, the remaining half will be provided when families file their annual tax returns in the spring of 2022. The Build Back Better Act would extend the monthly payment option for another year.