Working-class families are faced with an extra burden as the new year begins – the expiration of the expanded child tax credit. The expansion provided support for families struggling during the pandemic by changing some key factors of the already existing credit. Namely, the expansion increased the annual amount per child from $2,000 to between $3,000 and $3,600, it paid the credit in monthly installments rather than in one lump sum, and it expanded the full benefits of the credit to families who previously had been ruled ineligible due to their income being too low.
On the same day that the CTC expansion expired, there were almost 450,000 new COVID cases reported, almost double the number reported at the same time in 2021.
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