6 months into the expanded child tax credit, child poverty was reduced by more than 29%.

“…the first Child Tax Credit payment in July 2021, on its own, reduced the monthly child poverty rate by 26 percent—keeping 3 million children from poverty whose family incomes would otherwise have been below the poverty line had the payment not been in place (Parolin et al 2021b). The monthly antipoverty impacts of the Child Tax Credit have grown over time, primarily due to the fact that the IRS has been able to reach more eligible children as the months progress. The monthly Child Tax Credit kept 3.5 million children from poverty in August 2021 (Parolin & Curran 2021); 3.4 million children from poverty in September 2021 (CPSP 2021b); 3.6 million children from poverty in October 2021 (CPSP 2021c); and 3.8 million children from poverty in November 2021 (CPSP 2021d). Over the course of five months, the total number of children kept from poverty by the Child Tax Credit payments has risen by 800,000 children, an increase of 27 percent.”

empirical