Horsford Releases New Study Showing Child Tax Credit Pumped $179.1 Million Into Nevada’s Economy In July
NORTH LAS VEGAS, NEV. — Today, Congressman Steven Horsford (D-NV-04) released a new study showing the Child Tax Credit pumped $179.1 million into Nevada’s economy and delivered $143.3 million into working families’ pockets in July, benefiting 560,000 Nevada children. Based on the July payments, the new study from the Joint Economic Committee estimates the Child Tax Credit Monthly Payments will continue to pump $179.1 million into the Nevada economy each month.
“Earlier this year, I worked hard to pass the American Rescue Plan to deliver a historic tax break to most Nevada families with children,” said Congressman Steven Horsford. “Today’s study from the Joint Economic Committee shows the immediate impact of the expanded Child Tax Credit, which is returning hard-earned money to deserving families. As we move forward with a budget reconciliation package, I’m committed to a permanent expansion of the Child Tax Credit to set every child up for success and grow our economy.”
Child Tax Credit in the Fourth District Statistics:
- 92.1% of children (177,100 children) in Nevada’s Fourth District will gain from the expanded and improved Child Tax Credit
- The average benefit for 49,200 households is $3,100
- The expanded and improved Child Tax Credit will lift 9,700 children in Nevada’s Fourth District out of poverty
- 3,400 children under the age of six will be lifted out of poverty
- Families with children in poverty will receive $5,200 on average
- The expanded Child Tax Credit will lift 3,400 children in Nevada’s Fourth District out of deep poverty
If you need more information on this historic tax cut, visit Congressman Horsford’s website, or call (702) 963-9360.
To verify eligibility for the Child Tax Credit, families can use the IRS Eligibility Assistant.
To receive advance Child Tax Credit payments, families must have filed 2019 or 2020 tax returns or used the IRS’ non-filer tool to register for a stimulus check.
If parents claimed children on 2020 tax returns but do not plan to claim them in 2021, they can manage their advance Child Tax Credit payments by visiting https://irs.gov/childtaxcredit.
Click HERE to learn more about the full Joint Economic Committee’s study on how the Child Tax Credit is supporting local economies nationwide.
Geneva Kropper | 202-849-0251 | email@example.com