New Report Outlines Positive Impacts of New Child Tax Credit for Hoosier Economy
A new report jointly released today by Hoosier Action and Community Change Action outlines the anticipated positive impacts of the recently expanded child tax credit for Hoosiers. For the past two months, the vast majority of Hoosier families with children under the age of 18 have been receiving monthly cash payments of $250-$300 per child as a part of the landmark expansion of the child tax credit through the American Rescue Plan. Using recently released data from the Niskanen Center, this new report outlines the widespread economic and fiscal benefits to Hoosiers which redound well beyond individual family units. It is estimated that the child tax credit will result in a $701,861,037 incremental increase in consumer
