New Jersey has created a new child tax credit of up to $500 per child under 6. It might not be paid until 2024, but sponsors intend to speed that up by a year.
More than a third (34%) used the federal money for food, 17% used it on clothing, and 25% of parents with children under 5 spent at least part on child care.
The lead author of a new report says New Jersey politicians always talk about affordability, but surviving in this state remains expensive, with 1 in 10 families living below the poverty level and 1 in 3 considered low-income.
The credit itself is continuing in 2022, but will only come back to families once they file taxes at the beginning of 2023; the same goes for the current tax season and the other half of last year's credit that wasn't paid out monthly.
"The expanded child tax credit could potentially cut child poverty by one-third in New Jersey," said Cecilia Zalkind, of Advocates for Children of New Jersey.