Inflation Reduction Act does not extend federal Child Tax Credit

The Inflation Reduction Act, a bill that narrowly passed the U.S. Senate over the weekend, does not extend the federal Child Tax Credit. The federal Child Tax Credit, which became available to qualifying families through the American Rescue Plan Act, provided up to $3,000 per child per year for families with children under the age of 6. For families with children ages 6 to 16, the tax credit available was $3,600 per child per year. The funds could also be accessed monthly, instead of as a lump sum. Amber Wallin, executive director of New Mexico Voices for Children, said the policy lifted over 30,000 New Mexico children over the poverty line.

2021 Kids Count Data Book indicates positives but also continued challenges

The advocacy group New Mexico Voices for Children released the 2021 Kids Count Data Book on Wednesday and said that, according to the data, New Mexico saw 20,000 additional children enrolled in Medicaid in 2021. Emily Wildau, the New Mexico Kids Count Data Book coordinator, said that data was one of the biggest surprises for her to come out of the annual assessment of how New Mexico is doing in terms of how children are doing. “That was one of the biggest things that really stuck out,” Wildau said. Every year NMVC releases the Kids Count Data Book that assesses how New Mexico children are faring. Wildau said that this year, because of some data collection challenges during the COVID-19 pandemic, some of the data is based on earlier surveys and resources.

Stansbury speaks in support of renewing the federal Child Tax Credit

U.S. Rep. Melanie Stansbury called renewing the federal Child Tax Credit an equity issue during a press conference on Thursday. The federal Child Tax Credit, which provided $3,000 per child between ages 6 and 17 and $3,600 per child under 6 the last six months of 2021, was a measure within the federal American Rescue Plan Act. The average Child Tax Credit payment per household was $444 in December according to a U.S. Senate Joint Economic Committee report. Democrats are now seeking to renew and extend the federal Child Tax Credit through the Build Back Better Act, which passed the U.S. House of Representatives in Nov. by a vote of 220–213, along party lines, but the bill has stalled in the U.S. Senate which is more evenly divided.