As consumers enter the peak back-to-school shopping season (July through September), retailers and other consumer businesses are beginning to make room for backpacks, clothing, school supplies and other back-to-school needs. This season will certainly be different from last year, as consumers are in a ... READ MORE >
child tax credit
In case of emergency break glass: Reviving the enhanced child tax credit to ease inflation
Should the Russian incursion into eastern Ukraine turn into a full-fledged invasion, it is likely that the global and U.S. economies will absorb yet another supply shock. Energy prices will most likely surge in its aftermath, sending inflation higher than the current 7.5%. At this point, given the ... READ MORE >
Enhanced child tax credit was a game-changer for families, and the economy
Even as the economy slowed in the third quarter as the delta variant took hold, that slowdown would have been far worse if not for the enhanced child tax credit that was introduced on July 15. By our estimate, the enhanced child tax credit, which provided direct payments to about 35 ... READ MORE >
Chart of the day: How the enhanced child tax credit expands outlays on food, shelter and books
A survey by the U.S. Census Bureau adds to the argument that direct payments to households are the most efficient way to help families in need. The recent innovation in the child tax credit—taking half of it and turning it into six lump-sum payments over the course of a year—has yielded some ... READ MORE >
Child tax credit: Potential game changer for American families
One aspect of the American Rescue Plan signed into law in March included an extension of the child tax credit first enacted in 1997 that would send direct aid to families. Those aid checks, for families with children making up to $150,000 or $112,500 for a single parent who is a head of household. ... READ MORE >