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The Effects of the 2021 Monthly Child Tax Credit on Child and Family Well-being: Evidence from New York City

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  • Collyer, Sophie
  • Gandhi, Jill
  • Garfinkel, Irwin
  • Ross, Schuyler
  • Waldfogel, Jane
  • Wimer, Christopher

Abstract

The temporary monthly Child Tax Credit implemented in 2021 had the potential to affect many aspects of child and family well-being, including poverty, hardship, use of food pantries, spending on child-related items, and parents’ mental health and employment. We assess these effects using data from two longitudinal studies of well-being in New York City. We find that the monthly CTC led to significant declines in the risk of facing material hardship, multiple hardships, running out of money, and using food pantries. We do not find evidence of significant changes in parents’ mental health, employment, or spending on childcare or enrichment activities.

Suggested Citation

  • Collyer, Sophie & Gandhi, Jill & Garfinkel, Irwin & Ross, Schuyler & Waldfogel, Jane & Wimer, Christopher, 2022. "The Effects of the 2021 Monthly Child Tax Credit on Child and Family Well-being: Evidence from New York City," SocArXiv rnmfv, Center for Open Science.
    • Handle: RePEc:osf:socarx:rnmfv
    DOI: 10.31219/osf.io/rnmfv
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    References listed on IDEAS

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    1. Zachary Parolin & Sophie Collyer & Megan Curran, 2021. "Sixth Child Tax Credit Payment Kept 3.7 Million Children Out of Poverty in December," Poverty and Social Policy Brief 20416, Center on Poverty and Social Policy, Columbia University.
    2. Lucie Schmidt & Lara Shore‐Sheppard & Tara Watson, 2023. "The Effect of Safety Net Generosity on Maternal Mental Health and Risky Health Behaviors," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 42(3), pages 706-736, June.
    3. Hilary Hoynes & Doug Miller & David Simon, 2015. "Income, the Earned Income Tax Credit, and Infant Health," American Economic Journal: Economic Policy, American Economic Association, vol. 7(1), pages 172-211, February.
    4. Gregg, Paul & Waldfogel, Jane & Washbrook, Elizabeth, 2006. "Family expenditures post-welfare reform in the UK: Are low-income families starting to catch up?," Labour Economics, Elsevier, vol. 13(6), pages 721-746, December.
    5. Garfinkel, Irwin & Sariscsany, Laurel & Ananat, Elizabeth & Collyer, Sophie & Hartley, Robert P. & Wang, Buyi & Wimer, Christopher, 2022. "The Benefits and Costs of a Child Allowance," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 13(3), pages 335-362, October.
    6. Irwin Garfinkel & Laurel Sariscsany & Elizabeth Ananat & Sophie M. Collyer & Robert Paul Hartley & Buyi Wang & Christopher Wimer, 2022. "The Benefits and Costs of a U.S. Child Allowance," NBER Working Papers 29854, National Bureau of Economic Research, Inc.
    7. Jacob Goldin & Katherine Michelmore, 2022. "Who Benefits from the Child Tax Credit?," National Tax Journal, University of Chicago Press, vol. 75(1), pages 123-147.
    8. Caroline Ratcliffe & Signe-Mary McKernan & Sisi Zhang, 2011. "How Much Does the Supplemental Nutrition Assistance Program Reduce Food Insecurity?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 93(4), pages 1082-1098.
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    Cited by:

    1. Cha, Eunho & Lee, Jiwan & Tao, Stacie, 2023. "Impact of the expanded child tax credit and its expiration on adult psychological well-being," Social Science & Medicine, Elsevier, vol. 332(C).

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