Congressman Thompson Reveals District & State Level Data Detailing Benefits of Child Tax Credit
Published 3:48 pm Wednesday, July 14, 2021
(BOLTON, MISSISSIPPI) – Congressman Bennie Thompson announces that a stunning 94.7% of children in Mississippi’s 2nd Congressional District will gain from the expanded and improved Child Tax Credit (CTC). It will affect the lives of approximately 168,400 children lifting 20,000 children out of poverty. The average benefit for 50,000 households is $3,500, and low-income households with children will receive $5,600 on average. Because of the larger benefit for the youngest, 7,300 kids under the age of six are raised out of poverty with 4,600 children being raised out of deep poverty. American Rescue Plan Act (ARPA) expanded the child tax credit for 2021 and provided that up to 50% of the credit per taxpayer be advanced in 6 monthly payments beginning July 15th.
Using Census data, there are about 380,133 families with children under 18 in Mississippi. Of those families, 369,427 will be eligible for the expanded CTC. Approximately, 55,000 children in Mississippi will be lifted above poverty from the ARPA-expanded child credit. Estimates show that child poverty will fall by about 47% in Mississippi.
“It is an honor to have supported legislation that will bring economic stability to so many families in the 2nd Congressional District,” said Rep. Thompson. “The American Rescue Plan continues to exist as historic legislation showing that we are dedicated to revitalizing the lives of low-income Americans.”
This benefit will be transformative for poor, working, and middle-class families with payments that will help households with the cost of food, childcare, clothing, taxes, and healthcare. Families will feel more secure and better able to deal with burdensome expenses. All families who qualify will receive the same monthly payments, $250 per month per child, and $300 per month for every young child.