Congresswoman Manning: Child Tax Credit Delivered $39.3 Million In Tax Cuts to Sixth District Families in August
According to New Report, Child Tax Credit Tax Cuts are Generating Nearly $20 Billion in Local Economic Activity
Each Month Nationwide, Supporting Local Businesses and Jobs
Greensboro, N.C. — Congresswoman Kathy Manning (NC-06) released a new report from the Joint Economic Committee today estimating that 94,000 Child Tax Credit monthly tax cut payments were sent to families in North Carolina’s Sixth District in August. A total of $39.3 million in tax cuts went to hardworking Sixth District families.
Statewide, 1,184,000 monthly tax cut payments went to families in August for a total of $499.4 million. The average payment was $422. This important tax cut is already having a positive impact by decreasing food insecurity and easing the financial hardship that so many families have suffered during this pandemic.
Nationwide, the Joint Economic Committee estimates the Child Tax Credit tax cuts are pumping $19.3 billion into local economies each month, supporting local jobs and businesses.
“This historic tax cut is putting more money back in hard working families’ pockets so they can pay for child care or put gas in the car to get work, put food on the table, cover school expenses, spend money at our local businesses and continue to grow our local economy while building better lives for their families,” said Congresswoman Manning.
Click HERE to learn more about the full Joint Economic Committee’s study on how the Child Tax Credit is supporting local economies nationwide.
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