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1 million children in more than 700,000 Virginia families would benefit from a state Child Tax Credit. Are you listening, state legislators? The Issue: our federal tax system has long had a child tax credit - parents get a limited credit on their tax bill to cover some of the costs of raising kids. The crazy thing, however, was that parents whose tax bill was lower than the credit were out of luck - they got little or nothing. The result, children in the poorest families were shortchanged, making poverty in America worse. During Covid, however, Congress changed the law so that low income families could finally get the benefit of the child credit. And that led to the largest drop in child poverty in America in decades. And then? In 2022, the Republicans in Congress refused to extend it (arguing, in part, that improving the incomes of the poor would make them work less!). And just like that, child poverty in America more than doubled. Why it matters: Unfortunately, with Congress in political gridlock, there appears little chance that the Republicans will change their minds. That leaves it up to the States to help lift our kids out of poverty. And many of them have done just that: in fact 14 States have passed child tax credits, and many of them are of the refundable kind that helps the poorest families. What do to about it: Virginian legislators have the opportunity to help children improve their lives by passing a refundable child tax credit. Other States have already shown the way. So before you vote, ask your candidates if they will fight for a new child tax credit.
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