Stimulus Update: One Metric Reveals How Much Parents Suffer Without Stimulus Aid

It’s safe to assume that 2022 has been a difficult financial year for many parents. And the reason is partly due to a mix of excessive inflation and a lack of stimulus measures.

To be sure, a few states have issued their own stimulus checks this year as a result of surplus funds in their budgets. However, no stimulus aid has been made accessible to the general population on a national level. This includes the increased Child Tax Credit.

Last year, the Child Tax Credit was increased from $2,000 to $3,000 for children aged 6 to 17 and $3,600 for children under the age of 6. Not only that but half of the credit was paid in monthly installments that were deposited into recipients’ bank accounts from July to December.

Meanwhile, inflation has increased nearly every living expense imaginable. Americans are spending more on housing, transportation, electricity, food, and clothing, among other things, these days. Many people have already depleted their savings or incurred credit card debt in order to stay afloat.

Unfortunately, figures reveal that food insecurity has increased in households with children this year as a result of a combination of inflation and no increased Child Tax Credit. However, a more nuanced data point suggests that even middle-class parents are struggling without stimulus assistance.

It’s safe to assume that 2022 has been a difficult financial year for many parents. And the reason is partly due to a mix of excessive inflation and a lack of stimulus measures.

Must Check:

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To be sure, a few states have issued their own stimulus checks this year as a result of surplus funds in their budgets. However, no stimulus aid has been made accessible to the general population on a national level. This includes the increased Child Tax Credit.

US economy turns in record Q3 growth, but crisis is not over | Business and  Economy News | Al Jazeera

Last year, the Child Tax Credit was increased from $2,000 to $3,000 for children aged 6 to 17 and $3,600 for children under the age of 6. Not only that but half of the credit was paid in monthly installments that were deposited into recipients’ bank accounts from July to December.

Meanwhile, inflation has increased nearly every living expense imaginable. Americans are spending more on housing, transportation, electricity, food, and clothing, among other things, these days. Many people have already depleted their savings or incurred credit card debt in order to stay afloat.

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Unfortunately, figures reveal that food insecurity has increased in households with children this year as a result of a combination of inflation and no increased Child Tax Credit. However, a more nuanced data point suggests that even middle-class parents are struggling without stimulus assistance.

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