The federal expanded child tax credit (CTC) popular during the COVID-19 pandemic expired and hasn’t returned. But the expanded benefit, which in many cases included advance monthly tax credit payments of up to $300 per qualifying child, benefited families in the United States. Government data show that 2.9 million children were lifted out of poverty due to the expanded federal CTC.
Earlier this year, the U.S. House of Representatives passed a bipartisan tax deal, which included a new child tax credit that would have partially restored the expansion. Unfortunately, the tax bill has stalled in the Senate. So, it's unclear whether a federal expanded CTC will become law before the end of this year.
