Polls indicate that if Democrats want to capture more of the vote in the midterm elections this fall, they should go big on economic policies like the expanded child tax credit.
a work requirement on the proposal if it did go through, and promoted bad faith claims that the credit was encouraging people not to work.from Washington University in St. Louis and Appalachian State University researchers found that the child tax credit had no significant effect on employment, and that those who received the credit were actually employed at higher rates than people who didn’t.
In fact, employment of beneficiaries only dropped sharply when the expanded tax credit expired in December, with employment rates dropping from 72 percent to 68 percent. The data suggests that the child tax credit actually helps people keep their jobs so that they can afford child care, the costs of which can drive people out of work in order to care for their children full time.
“Many parents can’t work right now because they can’t afford childcare, but they can’t afford childcare because they can’t work,”, public affairs director for poverty eradication group Humanity Forward. “Reverting the Child Tax Credit back to monthly payments could help break this vicious cycle for millions of families and end the decline of employment.”
Extending the expanded child tax credit wouldn’t just be good politics for Democrats — it would also have huge impacts on families’ finances and the economy at large. In a working paper released last month,for every dollar invested in families with children, there would be a return of $10 in societal and economic benefits; if low-income families with one child received an extra $1,000 a year, the program would cost $97 billion and generate $982 billion in benefits.
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