Congressman Panetta Highlights A Report that the Expanded Child Tax Credit in American Rescue Plan Will Benefit 158,000 Central Coast Children

SALINAS, CA – On Tuesday, April 27 Congressman Jimmy Panetta (D-Carmel Valley) highlighted a report by Co-Equal, a data analytics group, that demonstrates the benefits of the expanded and improved Child Tax Credit (CTC) for California’s 20th Congressional District. The report makes clear that the one-year expansion of the CTC, as mandated by the American Rescue Plan (ARP), will benefit 158,900 children and 14,900 children will be lifted out of poverty on the Central Coast. “Unfortunately, the pandemic put increased pressure on many Central Coast families, especially when it comes to raising young children,” said Congressman Panetta. “As the federal representative for the Central Coast and as a member of the Ways and Means Committee in Congress, I understood those mounting burdens as well as the potential benefits of the expansion of the CTC under the American Rescue Plan. This report bolsters our belief in the benefits of the CTC that will directly affect and improve the lives of families and children across our communities and country. Moreover, the data in the report confirms how a permanently expanded CTC could lift generations of children out of poverty. The ARP is a crucial step forward to get us through the pandemic, but we also must now use this type of evidence for our continued efforts to improve and extend the Child Tax Credit into the future.” The improved CTC provides families $250 per child a month and $300 for kids under 6 and will have the following impact on households in California’s 20th District: 158,900 children, 85.3 percent, will benefit from the monthly CTC checks. 14,900 children will be lifted out of poverty. 3,100 children will be lifted out of deep poverty. 5,300 kids under the age of six will be raised out of poverty. The average benefit for 37,900 households will be $2,800 annually. Families with children in poverty will receive $3,800 on average.