Using state-level data from the Treasury Department on advance Child Tax Credit (CTC) payments, the Joint Economic Committee estimated, by congressional district, the cumulative total CTC payment amounts in 2021 and the number of eligible children receiving the benefit at year’s end. Advance CTC payments began on July 15 and were authorized to continue each month through the end of the year. JEC estimates are based on data available through November 15.
Nov 19 2021
Economic Update - November 19, 2021
Each month, the Bureau of Labor Statistics (BLS) releases national and state-level data on U.S. employment, which provide useful information about the state of the labor market and progress toward building back better.
Nov 18 2021
Estimates of Advance Child Tax Credit Distribution by Congressional District (November 2021)
Using state-level data from the Treasury Department on advance Child Tax Credit (CTC) payments, the Joint Economic Committee estimated the number of qualifying children, total number of payments, and total payment amount by congressional district in November 2021, when the fifth round of CTC payments was distributed.
Nov 12 2021
Economic Update - November 12, 2021
Nov 05 2021
Economic Update - November 5, 2021
Entrepreneurship and business creation are fundamental to a dynamic economy. Companies less than five years old create an average of 1.5 million new jobs each year. Hispanic Americans are helping to drive this engine of job creation. Nearly 1 in 4 new businesses—which provide critical sources of new jobs—are Hispanic-owned, and the nearly 5 million Hispanic-owned businesses contribute over $800 billion to the American economy annually. In the decade preceding the pandemic, the number of Hispanic business owners increased 34% compared to an increase of just 1% among non-Hispanic business owners.
Oct 29 2021
Estimates of Advance Child Tax Credit Distribution by Congressional District (October 2021)
Using state-level data from the Treasury Department on advance Child Tax Credit (CTC) payments, the Joint Economic Committee estimated the number of qualifying children, total number of payments, and total payment amount by congressional district in October 2021, when the third round of CTC payments was distributed.
The American Rescue Plan (ARP) dramatically increased the value of the Child Tax Credit (CTC), from $2,000 per child to up to $3,600 per child under age 6 and $3,000 per child aged 6-17. The ARP also expanded the CTC so that it is now fully refundable, and previously ineligible low-income families will receive the full credit. Half of the expanded CTC is being distributed in advance via monthly payments, helping families meet their financial needs in real time. The Treasury Department has delivered $61 billion to families across the country thus far.
