According to one study, the 2021 expansion of the child tax credit cut monthly child poverty in the U.S. by nearly a third. But other studies suggest that the poorest families had the most difficulty accessing the government’s payments.
, in partnership with Propel, of more than three thousand parents with low incomes, and found that nearly a third of families making less than five hundred dollars a month hadn’t received any of the money; for families making more than a thousand dollars a month, the figure was thirteen per cent. Parents with lower education levels and those who completed the survey in Spanish were also more likely to miss out.
Her low credit score, around 630, meant that interest on a home loan would be too high for her to afford. She had recently started leasing a Jeep Grand Cherokee, which, because of her credit score, cost nearly a thousand dollars a month. “I’m not really a spender, but I really needed a new car, and I love this one,” she said. If she could get her credit score above 700, her auto-loan payments would be cut nearly in half, and she could start looking more seriously for a house.
At one point, she took out her phone and scrolled through her missed calls. “Oh, God, it’s all red,” she said. She was scanning for a message from her heavy-machinery instructor, but it wasn’t there. “Maybe I can do that and collect unemployment, or getand do that part time,” she said, referring to Temporary Assistance for Needy Families, an easily accessible cash benefit that, in New Mexico, provides around thirty thousand families with a couple hundred dollars a month.
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