November 2021 Child Tax Credit payment kept 3.8 million children from poverty
The fifth monthly payment of the expanded Child Tax Credit kept 3.8 million children from poverty in November 2021. The Child Tax Credit reached 61.3 million children in November and, on its own, contributed to a 5.1 percentage point (29.4 percent) reduction in child poverty compared to what the monthly poverty rate in November would have been in its absence. Estimates are available by children’s race and ethnicity in the table below.
The fifth monthly payment of the expanded Child Tax Credit kept 3.8 million children from poverty in November 2021. The Child Tax Credit reached 61.3 million children in November and, on its own, contributed to a 5.1 percentage point (29.4 percent) reduction in child poverty compared to what the monthly poverty rate in November would have been in its absence. Estimates are available by children’s race and ethnicity in the table below.
In prior work, we found the first Child Tax Credit payment kept 3 million children from poverty in July 2021; 3.5 million children from poverty in August 2021; 3.4 million children from poverty in September 2021; 3.6 million children from poverty in October 2021; and 3.8 million children from poverty in November 2021. Our research has also shown that the payments have reduced food insufficiency among low income families with children and that there is no evidence of negative employment effects. The US Department of Treasury reports that the first Child Tax Credit payment reached 59.3 million children in July, the second payment reached 60.9 million children in August, the third payment reached 60 million children in September, and the fourth payment reached 61.1 million children in October.
Measuring Monthly Poverty
In 2020, we established a novel method to estimate monthly Supplemental Poverty Measure (SPM) poverty rates. Using a monthly framework, we are able to track poverty amidst changing economic circumstances, for example as the COVID-19 pandemic and federal policy responses to it evolved. Visit our data page to see monthly poverty information for the US population as a whole, as well as by race/ethnicity and age groups.
Suggested Citation:
Center on Poverty and Social Policy, Columbia University. 2021. November Child Tax Credit payment kept 3.8 million children from poverty. Monthly Poverty Update.