DailyHum Logo
The child tax credit encourages parents to work, study finds
Sep 23, 2021 | CNBC
Picture - The child tax credit encourages parents to work, study finds

The new enhanced child tax credit may help parents continue working, a recent study shows.

Nearly 94% of parents said they planned to continue working or even work more once receiving the credit, which began in monthly installments in July, according to a report from a team of researchers from Washington University of St. Louis, Appalachian State, UNC-Greensboro, the Urban Institute and Humanity Forward.  

Only 6.4% of respondents said they'd use the credit to either work less or change jobs, and those that did were more likely to have young children or a partner at home. To that point, some 11.2% of parents with infants or toddlers said the credit would change their work status, and roughly 20% of those who said they'd use the credit to stay home lived with a spouse or partner.

Sponsored
Oct 22, 2021 | Yahoo Money
5 Best Debt Consolidation Loans of 2021
Oct 22, 2021 | Yahoo Money
How Much House Can I Afford?