A University of Illinois research team has published a study on the impact of assistance programs on vulnerable families.
According to a new report from the Project for Middle Class Renewal at U of I, extending the child tax credit program beyond 2021 could promote financial stability in low-and-moderate-income families.
Dylan Bellisle is a postdoctoral research associate who worked on the report.
He says the team looked at the possible impact of expanding child tax credit by comparing it with a similar program, the earned income tax credit.
Bellisle said recurring tax payments not only help families make ends meet, but can also have positive health effects.
“Those who received periodic EITC payments, so recurring tax payments over time, reported less food insecurity, financial hardship, financial stress, and even they reported less depressive symptoms,” said Bellisle
Bellisle said he hopes that their study will address gaps in family budgets due to their limited income or even their income instability with the help of the Child Tax Credit program.
“And so while this is not necessarily surprising, I do think it’s important because prior to the monthly child tax credit payments, we really had few policies that would help families reduce their economic hardship on an ongoing basis,” Bellisle said.
