The child tax credit has given stability to many families. Today’s payment could be the last.

Marketplace

podcast: Marketplace

As part of a COVID-19 relief package last spring, Congress expanded the federal child tax credit and started sending it out in monthly installments. For many families, the extra couple of hundred dollars each month has provided a cushion for emergencies or has been spent on essentials, like rent and utilities. But the expansion is temporary, and unless Congress passes President Joe Biden’s social spending plan, the decline in childhood poverty we’ve seen could be temporary, too. Inflation is also on today’s agenda, including how it was discussed at today’s Fed meeting, where it might linger in the economy and whether wage growth will be able to keep up with it.


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