La Crosse, WI — With the December round of tax cut payments from the Child Tax Credit (CTC) hitting bank accounts today, Rep. Ron Kind is highlighting a new report that estimates his vote for the American Rescue Plan and its expanded CTC will have delivered $200.5 million in tax cuts to hardworking families in Wisconsin’s Third Congressional District in 2021 and $1.6 billion in tax cuts to families statewide.
The report from the Joint Economic Committee shows that 70,000 payments went to 133,000 eligible children in Wisconsin’s Third Congressional District last month. According to the latest Census Bureau data, families are using this tax cut to meet the needs of their households with 56% of families spending their CTC payment on food, 33% on internet and other utilities, 30% on rent/mortgage, 30% on clothing, and 11% on child care. The expanded CTC is also expected to reduce childhood poverty by over 40%, lifting nearly four million children out of poverty.
“The historic expanded Child Tax Credit is helping Wisconsin parents build brighter futures for their kids in addition to supporting our small businesses and local economies,” said Rep. Ron Kind. “In just half a year, this tax cut has had a big impact on hard-working families and our economy. I’m committed to ensuring this progress continues, which is why I voted to extend these payments last month. Now, I urge my Senate colleagues to do the same and pass the Build Back Better Act to make sure Wisconsin families don’t lose access to this vital relief.”
A previous Joint Economic Committee report showed that the expanded CTC is also working to boost our economy, generating nearly $19.3 billion in spending in local economies across the country each month.
In November, Rep. Kind voted to extend the monthly payments of the expanded Child Tax Credit as part of the Build Back Better Act. December will be the last month families receive this tax cut without this extension.