Luján Statement on Child Tax Credit Awareness Day
Washington, D.C. – U.S. Senator Ben Ray Luján (D-N.M.) today joined the White House in spreading the word that the expanded Child Tax Credit (CTC) will start reaching nearly all working families beginning on July 15th.
“The American Rescue Plan is bringing relief to every corner of New Mexico. Next month, families will begin receiving monthly payments from the expanded Child Tax Credit passed as part of this landmark legislation. This historic investment in our children and families is a game changer that will benefit 95% of New Mexico children and help families recover and rebuild from the pandemic,” said Luján. “I urge New Mexicans to learn about and take full advantage of the Child Tax Credit. I will continue to fight, alongside President Biden and my congressional Democratic colleagues, to make these investments permanent.”
The expanded CTC, which was passed as part of the American Rescue Plan in March, provides a $3,600 credit for children under the age of 6, and increases the credit for children between 6 and 16 from $2,000 to $3,000. Families making up to $150,000 for a couple – or $112,500 for a family with a single parent – will see the full benefit of the CTC.
According to the Center on Budget and Policy Priorities, the expanded CTC will lift an estimated 32,000 New Mexico children out of poverty, and cut child poverty by half in the state, from 13.1% to 6.5%. It is also expected to reduce Hispanic child poverty by 45.4% and Native American childhood poverty by 61.5% nationwide.
The IRS has launched a simplified online tool that will allow families not automatically enrolled in the program to receive the Child Tax Credit. New Mexicans can find more information at ChildTaxCredit.gov.