September 15, 2021

Neguse: Child Tax Credit Delivered $28.1 Million In Tax Cuts To 2nd District Families In August

According to New Report, Child Tax Credit Tax Cuts are Generating Nearly $20 Billion in Local Economic Activity Each Month Nationwide, Supporting Local Businesses and Jobs

BOULDER— DPCC Co-Chair Congressman Joe Neguse released a new report from the Joint Economic Committee today estimating that 78,000 Child Tax Credit monthly tax cut payments were sent to families in Colorado’s Second Congressional District in August. A total of $28.1 million in tax cuts went back in the pockets of hardworking District 2 families.

“This historic tax cut is putting more of hardworking families’ own money back in their pockets so they can pay for child care or put gas in the car to get work, put food on the table, cover school expenses, spend money at our local businesses and continue to grow our local economy while building better lives for their families,” said Congressman Joe Neguse.  

Statewide, 599,000 monthly tax cut payments went to families in August for a total of $254.9 million. The average payment was $425.

Nationwide, the Joint Economic Committee estimates the Child Tax Credit tax cuts are pumping $19.3 billion into local economies each month, supporting local jobs and businesses.

Click HERE to learn more about the full Joint Economic Committee’s study on how the Child Tax Credit is supporting local economies nationwide.