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The Effects of the 2021 Child Tax Credit on Parents’ Psychological Well-Being

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  • Lisa A. Gennetian
  • Anna Gassman-Pines

Abstract

Although improving psychological well-being was not the explicit focus of the 2021 expanded Child Tax Credit (CTC), psychological health outcomes may have been affected by the positive income shocks generated by the credit. In this chapter we ask: How did the 2021 expanded CTC affect parents’ psychological well-being? Some studies have found that the CTC led to reductions in parental reports of clinical levels of depression and anxiety and in subclinical depressive and anxiety symptoms. Using similar methods, other studies have found no effect on these same outcomes. Importantly, however, the evidence does not point to the CTC worsening psychological well-being. We conclude that the evidence so far is thin, narrow, and mixed, even when our review is expanded to comparable studies on the impact of income support. Alignment of policy objectives with a broader range of measurement approaches will be important in building a more conclusive evidence base.

Suggested Citation

  • Lisa A. Gennetian & Anna Gassman-Pines, 2024. "The Effects of the 2021 Child Tax Credit on Parents’ Psychological Well-Being," NBER Working Papers 32662, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:32662
    Note: CH
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    More about this item

    JEL classification:

    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy

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