Emma Ockerman
New study adds to body of research showing positive effects payments may have had in the short term
We would love to hear from readers with stories to share about the impact of rising costs and changing economies. If you would like to share your experience, please contact us at readerstories@marketwatch.com. Please include your name and preferred contact method. You may be contacted by a reporter.
Temporary increase in child tax credit, which provided eligible parents with monthly payments worth up to $300 per child early in the pandemic, blunts symptoms of depression and anxiety in low-income adults may have been helpful. Color, according to a new study.
Despite no change in mental health care use, this expansion resulted in a 1.7 percentage point reduction in depressive symptoms and anxiety-related symptoms among low-income adults with children, according to the authors of the published study. in health issues this week.
Mental health benefits appear to be even greater for black and Hispanic adults, and researchers say unemployment and racial disparities in household wealth due to the pandemic mean they may get more from higher tax credits. I pointed out that you can. Symptoms when compared to Caucasians.
“These findings suggest that CTC and other similar tax dollars should be used to help economically disadvantaged families, especially as the economic recovery from the pandemic drags on and already marginalized families continue to be left behind. It’s important for Congress and state legislatures as they consider making the deduction permanent,” wrote Akansha Batra, Caitlin Jackson, and Rita Hamad, authors of the University of California, San Francisco-based study. increase.
The expansion of the child tax credit, realized through the American bailout plan in 2021 and ending later in the year, provides a typical $2,000 per child tax incentive for mostly middle-income families. and extended its eligibility to lower-income households. increased the offer to $3,000 for each child age 6 and older and $3,600 for each child under age 6. Half of the credits were distributed monthly from July to December 2021.
Although short-lived, enhanced payments may have contributed to a reduction in child poverty, helped parents’ ability to meet emergency costs, and may have reduced food insecurity, according to the Brookings Institution. Take a payday loan and take a pawn shop loan when compared to people who don’t have one.
“Our study is small but growing, showing that CTC not only increased food adequacy but also improved mental health in adults with children, especially in the most marginalized groups. “By reducing economic hardship, this policy has the potential to improve the environment in which vulnerable, low-income children grow up.” I have.”
Their study utilized data from the U.S. Census Bureau’s Household Pulse Survey, which included anonymized self-reported information about respondents’ mental health symptoms from April 2021 to January 2022. “We found no evidence that CTC expansion had significant short-term effects on measures of life satisfaction, anxiety, and symptoms of depression in adult recipients.” It may be temporary.
The authors of this week’s study said the study “used different measures of life satisfaction, depression and anxiety, employed different analytical techniques, and had a smaller sample size than our study, which may explain the different results.” It has potential,” he said.
-Emma Ockerman
(Closed) Dow Jones Newswire
01-12-23 1749ET
Copyright (c) 2023 Dow Jones & Company, Inc.
