As Second Monthly Child Tax Credit Checks Hit Georgia Families’ Bank Accounts, New Census Data Points to Families Spending First Check on Basic Needs
2.1 million children in Georgia received a combined total of $520 million last month, coinciding with more food, housing and financial security
This week’s newly released data from the Census Household Pulse survey shows that Georgia families likely spent their first monthly Child Tax Credit payments on food, rent, and other basic household expenses. The U.S. Census Bureau’s report links the first round of check disbursements to reductions in food insecurity and increases in Georgia families’ ability to afford basic expenses.
In Georgia, the data shows substantial drops in most of the categories the survey tracked, but especially with helping families put food on the table. Food insecurity for these families fell nearly 7% — from 16.4% to 9.7%.
Overall, Georgia families with children reported struggling with household expenses less in that seven day period, falling from 59.6% to 55.6%.
In the week after families received the Child Tax Credit checks, Georgia families reported having more reliable housing. Census data shows about a 2.5% drop (from 44.3% to 41.9%) in families with children saying that they have little or no confidence in making their upcoming rent payment.
“The data shows that the expanded Child Tax Credit payments are making it easier for Georgia parents to provide and care for their families,” said Natalie Foster, Co-Chair of Economic Security Project. “The tax credit is helping all families succeed, from working families struggling with basic needs like food, rent, and bills, to middle-class families that need help with childcare costs and college savings. It is proving to be an essential tool for building an inclusive and equitable economy.”
Treasury Department data estimates that the July 15 payments were sent to 2.1 million children in Georgia. These families received an average payment of $418 last month, for a total influx of $520 million into Georgia communities.
The next round of payments were sent to families on the morning of Friday, August 13. Monthly checks will continue until December. The remaining second half of the credit will conclude with a lump sum paid out during the tax season — unless Congress decides to make the Child Tax Credit permanent.