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Child Tax Credit Delivered $31.1 Million in Tax Cuts to NY-13 Families in October

November 15, 2021

According to New Report, Child Tax Credit Tax Cuts are Generating Nearly $20 Billion in Local Economic Activity Each Month Nationwide,
Supporting Local Businesses and Jobs

WASHINGTON, DC – Today Representative Adriano Espaillat (NY-13) released a new report from the Joint Economic Committee estimating that 77,000 Child Tax Credit monthly tax cuts were sent to families in New York’s 13th Congressional District in October. A total of $31.1 million in tax cuts went back in the pockets of hardworking families.

Statewide, 2,011,000 monthly tax cuts went to families in October for a total of $838.1 million. The average tax cut per household was $417.

Nationwide, the Joint Economic Committee estimates the Child Tax Credit tax cuts are pumping $19.3 billion into local economies each month, supporting local jobs and businesses.

“This historic tax cut is putting more of hardworking families’ own money back in their pockets so they can pay for child care, put food on the table, cover school expenses, spend money at our local businesses and continue to grow our local economy while building better lives for their families,” saidRep. Espaillat.

Click HERE to learn more about the full Joint Economic Committee’s study on how the Child Tax Credit is supporting local economies nationwide and the impact to New York communities.

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Issues:Labor