October 15, 2021/Media, Press

Fourth Round of President Biden’s Child Tax Credit Hits Bank Accounts, Reducing NC Families’ Financial Anxiety and Rebounding the Economy

Today, the fourth round of the expanded Child Tax Credit, a monthly tax cut included in President Biden and Democrats’ American Rescue Plan intended to provide families relief from the coronavirus pandemic, hit American families’ bank accounts. 

Since these middle-class tax cuts started hitting families’ bank accounts in July, North Carolina parents across the state have testified to how much of a difference these payments are making in their lives. Despite the difference that the Child Tax Credit is making in North Carolinians’ lives, the entire North Carolina Republican delegation voted against these life-changing payments and Republican U.S. Senate candidates Ted Budd, Pat McCrory, and Mark Walker all oppose the middle-class tax cuts. 

Most recently, an eastern North Carolina resident said that “The Child Tax Credit extends a lifeline to families” and a parent in Raleigh said that the payments invest in families historically underserved by the government. Parents in Durham have said, “It’s a blessing”, “It takes away a layer of stress”, “It was a sigh of relief” and “They have been a game-changer for my family” in reference to their experience receiving the expanded Child Tax Credit. A parent in Asheville said in providing these tax cuts President Biden “knows that we know best how to take care of our kids when given the resources to do it.”

“President Biden and Democrats’ middle-class tax cuts made possible by the American Rescue Plan have made a tangible difference in North Carolina families’ lives. In only four months, these payments have decreased child hunger and reduced financial anxiety for families. Every parent wants to provide the world to their child — President Biden and Democrats’ historic investment in families is providing parents the resources needed to set all North Carolina kids to not only get by but to succeed,” said NCDP Spokesperson Ellie Dougherty

To determine eligibility for the Child Tax Credit, visit GetCTC.org.