Rep. Stansbury, Young Parents Call on the Senate to Renew the Child Tax Credit

Statement

Today, U.S. Representative Melanie Stansbury (N.M.-01) held a virtual bilingual press conference to hear stories of how the Child Tax Credit directly impacted the lives of young and single parents and called on the Senate to renew the vital tax cut that has cut child poverty by 40%.

Rep. Stansbury heard from four families who are a part of a young parenting cohort, hosted by Partnership for Community Action (PCA), an Albuquerque-based nonprofit. In New Mexico's First Congressional District, 117,000 children received payments between July and December 2021, totaling over $30 million per month. The parents gave testimonials about how the historic Child Tax Credit has kept their families above water during the pandemic.

"Today we heard directly from New Mexico families about how the Child Tax Credit has helped families get through the pandemic--including helping to put food on the table and pay for utilities, rent, and childcare. The Child Tax Credit has been essential in helping our working families and we must extend these vital tax credits by passing the Build Back Better Act in the Senate," said Rep Stansbury. "I want to thank the Partnership for Community Action for their work and advocacy and all of the parents who shared their stories today. The Child Tax Credit has been a lifeline for New Mexico families and helped to cut child poverty by 40% in New Mexico and across the country. It's time to get it done in the Senate and reauthorize these vital payments that have been so important in our communities."

"With this support [from the Child Tax Credit] it would be easier to save, ensure we can meet the basic needs of our home, and help make it easier for me to finish my studies and help me achieve my goal of becoming a Dental Assistant. This would be possible if I had a secure income for my family."// "Así con esta ayuda sería más fácil ahorrar, asegurar el sustento del hogar, podría ser más fácil concluir mis estudios y dedicarme a la carrera de Asistente Dental ya que es mi meta, así tendría un ingreso seguro para mi familia," said Jennifer Guereca, a member of PCA's Young Parents Cohort.

First passed in President Biden's American Rescue Plan, the Child Tax Credit supports eligible families with up to $300 per child, per month for a yearly total of $3,000 to $3,600. These monthly payments reduced child poverty and food insecurity by 40%, and according to research from Columbia University, families overwhelmingly spent this money on food and other basic needs.

A growing body of academic research finds that public investments in children yield significant long-term returns with economy-wide benefits, as healthier, more educated kids grow up with higher earnings.

Child Tax Credit payments have been paused nationwide as the Build Back Better Act has stalled in the Senate.

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