Child Tax Credit Payments Slashed Hunger Rates

Politico: “Before the first tranche of tax credit payments hit bank accounts in mid-July, about 11 percent of households with children reported that they sometimes or often did not have enough to eat in the past week.”

“After the money went out, the rate dropped to just over 8 percent — a decrease of nearly 24 percent — and the lowest rate recorded since the beginning of the pandemic.”

Wall Street Journal: “The second monthly payment of child tax credits reached the households of nearly 61 million children, the Treasury Department said. That is a 2.7% increase from July, indicating that new sign-ups are outpacing taxpayers’ decisions to opt out of the regular payments.”