Scott: Ahead of Thanksgiving, Biden Child Tax Credit Put $38.8 Million In Tax Cuts Back In VA-03 Families’ Pockets
NEWPORT NEWS, VA – Congressman Bobby Scott (VA-03) highlighted a new report from the Joint Economic Committee that estimated 83,000 Child Tax Credit monthly payments were sent to families in Virginia’s Third Congressional District. A total of $38,800,000 in tax cuts went back in the pockets of hardworking 3rd district families, covering 154,000 district children in November. The expanded CTC, included in the American Rescue Plan, is one of the largest-ever single-year tax cuts for families with children.
“Democrats in Congress are squarely focused on putting more money in the pockets of working families and the Biden Child Tax Credit, enacted in the American Rescue Plan, is doing just that in my district and across the country,” said Congressman Scott. "This additional assistance is especially critical to help families afford rising costs at a time when too many corporations are taking advantage of our pandemic recovery to squeeze consumers. Tax cuts for Virginia families the week before Thanksgiving means gas in the car for that trip to see loved ones and more money for groceries to put food on the table. I look forward to continuing our work on the Build Back Better agenda to further cut costs for families.”
Statewide, 941,000 monthly tax cuts went to Virginia families in November for a total of $396.9 million. The average tax cut was $422.
Nationwide, the Treasury Department has distributed nearly $16 billion to the hardworking families of over 61 million children.
Click HERE to learn more about the full Joint Economic Committee’s study on how the Biden Child Tax Credit is supporting local economies nationwide.
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