news

Sterling, VA -- Congresswoman Jennifer Wexton (D-VA) released a new report from the Joint Economic Committee today estimating that 103,000 Child Tax Credit monthly tax cut payments were sent to families in Virginia’s 10th District in August. A total of $37.7 million in tax cuts went back in the pockets of hardworking VA-10 families. Monthly payments for September were delivered via direct deposit or check beginning yesterday.

Statewide, 934,000 monthly tax cut payments went to families in August for a total of $388.1 million. The average payment was $416. Nationwide, the Joint Economic Committee estimates the Child Tax Credit tax cuts are pumping $19.3 billion into local economies each month, supporting local jobs and businesses and relieving financial burdens on families across the country.

“This historic tax cut that we passed as part of the American Rescue Plan has helped tens of thousands of Virginia-10 families recover and rebuild from COVID,” said Congresswoman Jennifer Wexton. “These monthly payments have given parents a boost to afford the things they need to build better lives for their families, including child care so they can get back to work. I’m working in Congress to extend the expanded Child Tax Credit and continue the lifeline that these advanced payments have provided to many working families.”

Families who responded to a survey issued by Wexton’s office say they are using the monthly tax credit payments to afford child care, purchase school supplies, pay bills, and make up for lost income during COVID.

Click HERE to learn more about the full Joint Economic Committee’s study on how the Child Tax Credit is supporting local economies nationwide.

###