EMPath applauds expansion to federal Child Tax Credit in bipartisan tax agreement – a long overdue boost to families living in deep poverty
Jan 16, 2024
Press Statement
It’s imperative that Congress pass this bipartisan deal immediately
On January 16, 2024, thanks to the leadership of U.S. Senator Ron Wyden (D-OR) and U.S. Representative Jason T. Smith (R-MO), a bipartisan group of lawmakers reached a deal on a tax package that includes critical investments to expand the federal Child Tax Credit. The tax package also includes a needed improvement to the Low-Income Housing Tax Credit that will build more than 200,000 new affordable housing units nationwide.
In response, Kim Janey, President & CEO of Economic Mobility Pathways (EMPath), a Boston-based national nonprofit dedicated to dramatically improving the lives of people living in poverty, and former Mayor of Boston, issued the below statement:
“Today, EMPath celebrates the inclusion of the expanded Child Tax Credit in the initial bipartisan tax deal – a critical investment that will support roughly 16 million children in families experiencing poverty in the first year alone. We thank Sen. Wyden and Rep. Smith for their leadership in shepherding this funding forward. While the expansion of the CTC is long overdue and falls short of the COVID-19 pandemic-level funding, which helped cut child poverty in half in 2021, this is an important step forward. Now, it’s up to Congress to approve the funding immediately.
"As we know firsthand from our work with families at EMPath, no-strings-attached cash assistance is among the most effective solutions to reduce poverty. The expanded Child Tax Credit will provide lifesaving support to families, particularly Black and brown families who are disproportionately impacted by poverty. In fact, more than 1 in 3 of all Black and Latino children under 17 will benefit from the CTC expansion.
“EMPath is also pleased that lawmakers included an enhanced Low-Income Housing Tax Credit that will boost affordable housing across the country. This tax credit will bring needed relief to families – including here in Massachusetts, one of the most expensive states in the country – whose budgets continue to be strained by soaring housing costs.
“This funding in the tax agreement is more important now than ever. At a time when the child poverty rate has more than doubled since last year, families are facing impossible choices between clothing, food, housing, childcare, and health. What’s more,15 states have rejected free summer meals for kids who need them most, a shameful decision that will deepen food insecurity.
“EMPath calls on Congress to stand up for children and pass this funding immediately; inaction is not an option. Investing in policies that provide no-strings-attached cash assistance to families is critical to providing them with the level of support they both need and deserve.”