Bennet Celebrates Third Disbursement of Expanded Child Tax Credit Payments As They Begin to Reach Families

New Poll Finds that the Expanded Child Tax Credit Has Strong Bipartisan Support, Over 400 Economists Call on Congress to Make Expansion Permanent

Denver – Today, Colorado U.S. Senator Michael Bennet celebrated the third disbursement of the advanced, expanded Child Tax Credit (CTC) payments as they begin to reach families. According to the Department of the Treasury, 1,005,000 Colorado kids received CTC payments so far in September. Eligible families received an average payment of $424. In total, over $250 million has been distributed to Colorado families this September.

According to a new Reuters/Ipsos poll, the expanded CTC is broadly popular with the American people. It is supported by 59% of U.S. adults, including 75% of people who identify as Democrats and 41% of people who identify as Republicans. Today, 410 economists sent a letter to Congressional leadership expressing their support for making the expanded CTC permanent. 

“I’m thrilled to see support growing for the advance Child Tax Credit payments,” said Bennet. “Whatever your politics, Americans understand that supporting kids is one of the best investments we can make. Policies like the Child Tax Credit not only support families, they help us stitch the country together by making progress where we agree. That’s why I’m doing everything I can to ensure every eligible family receives its benefits and make this uniting policy permanent.”

“In August, I was able to turn my phone back on just in time to include it on my children's school registration forms. I will use this month's check to buy school supplies for my kids rather than having to choose between school supplies and store-bought food. I really appreciate the local food banks, they are such a necessity for so many working families and families like mine who live on a fixed income from my VA disability pay,” said Ayesha from El Paso County.

“We have always felt that our daughter’s future is bright. With the added help of Child Tax Credit monthly payments, we're able to make the investments in her educational development that will put her on the path to realizing that future,” said Steve and Bridget from Denver County.

“The pandemic really teased out some of the inequities within our health care system. A tax credit for children is fundamental to taking these burdens off of parents and allowing them to provide for their children, their families, and their health,” said Dr. Dave Steinbruner, Chief Medical Officer, UCHealth.

“The Child Tax Credit in the American Rescue Plan provides a historic investment in working families. As the director of a local non-profit organization, I work with over 200 children and their families that live in poverty or have additional risk factors for optimal child development and school readiness. The Child Tax Credit is helping our families cover the cost of child care, groceries, and housing, alleviating some of the stress they experience and helping them access basic needs and additional services for their kids. Legislation making the increased Child Tax Credit permanent would be a game-changer for Colorado kids and families,” said Sherri Valdez, Executive Director, Early Childhood Council San Luis Valley.

More stories about the positive effect the expanded CTC is having on Colorado families and kids are available HERE.

Bennet has championed the expansion of the CTC for years. In March 2021, President Joe Biden signed into law a one-year expansion of the CTC, based on Bennet’s American Family Act, in the American Rescue Plan Act. This expansion has the potential to cut nationwide child poverty nearly in half this year and benefit 90% of American children.

In his American Families Plan, Biden proposed permanent full refundability of the CTC, as well as extending the enhanced CTC value and monthly payments through 2025. The president also committed to working with Congress to make the full, expanded CTC permanent. Last week, the House Ways and Means committee included in its initial draft of its portion of the Build Back Better budget bill an expansion of the Child Tax Credit through 2025, as well as made the credit fully refundable on a permanent basis. Bennet is working with his colleagues in the Senate to adopt these critical improvements.