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“THE INVOICES ARE MONTHLY, THE CHECKS SHOULD THEREFORE”, SAYS AN EXPERT
âBills come in monthly, and so should checks,â said Natalie Foster, Economic Security Project co-chair. CBS News about extended child tax credit payments.
âWe know that those first two checks really had a significant impact on families.â
Census data from the Senate Joint Economic Committee supported Foster’s remarks.
In a recent report, they found that food insecure households fell from 11 percent to 8.4 percent after these payments were made.
More than 400 economists on Wednesday sent a letter to lawmakers urging Congress to make the improved CTC a permanent feature of the tax code.
“A permanently enlarged CTC would produce enormous immediate and long-term benefits for children and their families and would be unlikely to significantly reduce employment,” the economists wrote.
Meanwhile, the Delta variant is causing a resurgence in COVID-19 cases, hampering job growth in August, with some companies reluctant to hire due to growing fears of infection.
But federal pandemic unemployment benefits ended on Labor Day for 9.1 million people, meaning unemployed parents may depend more on the CTC to make ends meet.
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