Dec 21 2021
11 Ways the Build Back Better Act Would Reduce Inflationary Pressure and Bring Down Costs for Families
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.
Dec 17 2021
Economic Update - December 17, 2021
Dec 17 2021
Estimates of Advance Child Tax Credit Distribution by Congressional District (December 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 December 2021, when the sixth round of CTC payments was distributed, as well as the cumulative payment amount by congressional district from July through December 2021. To mark six months of advance CTC payments, the JEC released a review of the evidence showing the economic benefits for 61 million children, 36 million families and the overall economy.
The expansion of the CTC, included in President Biden’s American Rescue Plan, is one of the largest-ever single-year tax cuts for families with children. It dramatically increased the value of the CTC from $2,000 per child to up to $3,600 per child under age 6 and $3,000 per child between age 6 and 17, putting money in the pockets of low- and middle-income families to pay for household expenses like food, rent, utilities and child care.