{"id":1096199,"date":"2021-12-07T20:43:32","date_gmt":"2021-12-08T01:43:32","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1096199"},"modified":"2021-12-07T20:43:40","modified_gmt":"2021-12-08T01:43:40","slug":"exclusive-child-tax-credit-is-driving-americans-toward-entrepreneurship-has-little-effect-on-workforce","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-child-tax-credit-is-driving-americans-toward-entrepreneurship-has-little-effect-on-workforce\/","title":{"rendered":"EXCLUSIVE: Child Tax Credit Is Driving Americans Toward Entrepreneurship, Has Little Effect On Workforce"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexclusive-child-tax-credit-is-driving-americans-toward-entrepreneurship-has-little-effect-on-workforce%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1096199&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><ul>\n<li><strong>A new study suggests that the child tax credit is not reducing overall employment nationwide but is driving some low and middle-income parents away from their private sector jobs and toward self-employment.<\/strong><\/li>\n<li><strong>The study, provided exclusively to the Daily Caller News Foundation, found that the monthly payments had barely any impact on the job market whatsoever, contradicting concerns that the tax credits would worsen the labor shortage.<\/strong><\/li>\n<li><strong>The CTC also drove people away from private sector jobs and toward self-employment and non-profits, the study showed, with the shift among recipients earning less than $50,000 annually being the most pronounced.<\/strong><\/li>\n<li><strong>\u201cOur research suggests that the expanded CTC is helping low and middle-income families to meet both short-term and long-term needs,\u201d said Dr. Leah Hamilton, an associate professor of social work at Appalachian State who helped lead the study.<\/strong><\/li>\n<\/ul>\n<p>A new study suggests that the child tax credit (CTC) is not reducing overall employment nationwide but is driving some low and middle-income parents away from their private sector jobs and toward self-employment.<\/p>\n<p>The <a href=\"https:\/\/cpb-us-w2.wpmucdn.com\/sites.wustl.edu\/dist\/a\/2003\/files\/2021\/10\/CTC-and-Employment-10212021.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">study<\/a>, led by researchers at the Washington University in St. Louis\u2019 Social Policy Institute and Appalachian State University and provided exclusively to the Daily Caller News Foundation, found that the monthly payments had <a href=\"https:\/\/dailycaller.com\/2021\/09\/23\/94-parents-child-tax-credit-payments-allow-more-work\/\" target=\"_blank\" rel=\"noopener noreferrer\">barely any impact<\/a> on the job market whatsoever, contradicting concerns that the tax credits would <a href=\"https:\/\/dailycaller.com\/2021\/10\/18\/manchin-demands-democrats-climate-change-child-tax-credit\/\" target=\"_blank\" rel=\"noopener noreferrer\">worsen the labor shortage<\/a>. It also found that adults were far less likely to list child care as a reason for unemployment, with the share of people saying so dropping from 26% to below 20% once they began receiving the payments.<\/p>\n<p>The new study also appears to contradict a recent study that projected as many as 1.5 million workers, or 2.6% of the national workforce, would ultimately <a href=\"https:\/\/bfi.uchicago.edu\/working-paper\/2021-115\/\" target=\"_blank\" rel=\"noopener noreferrer\">exit the labor market<\/a> while receiving payments.<\/p>\n<p>\u201cOur research suggests that the expanded CTC is helping low and middle-income families to meet both short-term and long-term needs,\u201d Dr. Leah Hamilton, an associate professor of social work at Appalachian State who helped lead the study, told the DCNF.<\/p>\n<p>The study was conducted using data from the <a href=\"https:\/\/www.census.gov\/data\/experimental-data-products\/household-pulse-survey.html\" target=\"_blank\" rel=\"noopener noreferrer\">Census Household Pulse Survey<\/a> from July to October, the first three months of the CTC implementation. The data was collected by the Census Bureau and other federal agencies in order to best monitor and implement policy responses to the coronavirus pandemic, and was gathered via a questionnaire sent to Americans of different backgrounds across the country.<\/p>\n<p>Over 60% of those earning less than $50,000 also reported using the CTC on food, while over 20% said they used the payments for essential bills, clothing, rent or a mortgage, school supplies or to pay off debt. Conversely, the study also found that those earning over $150,000 annually and still receiving at least part of the credit were more likely to save or invest the money than anything else.<\/p>\n<div id=\"attachment_7332886\" class=\"wp-caption alignnone\" readability=\"33\">\n<p id=\"caption-attachment-7332886\" class=\"wp-caption-text\">President Joe Biden delivered remarks in July when the first of tens of millions of child tax credit payments were issued. (Chip Somodevilla\/Getty Images)<\/p>\n<\/div>\n<p>But the CTC also drove people away from private sector jobs and toward self-employment and non-profits, the study showed. The shift among recipients earning less than $50,000 annually was the most pronounced; 16% described themselves as self-employed, up from 13% before the payments began, while participation in non-profits ticked up as well. <strong><a href=\"https:\/\/dailycaller.com\/2021\/08\/17\/americans-support-child-tax-credits-republicans-congress\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: Americans Support Monthly Child Tax Credits. Why Do So Few Republicans In Congress?)<\/a><\/strong><\/p>\n<p>\u201cIf this trend continues, it could indicate that the CTC is encouraging low-income households to pursue self-employment to make ends meet,\u201d the study said.<\/p>\n<p>\u201cBy offsetting some of the rising costs of child care, the monthly CTC is helping parents raise children and advance their careers all at once,\u201d Greg Nasif, the chief spokesman for Humanity Forward, a bipartisan policy center that has advocated for the CTC, added in a statement to the DCNF.<\/p>\n<p>The monthly payments of $300 for each child under six and $250 for each child ages 6-17 were passed as part of President Joe Biden\u2019s coronavirus relief package in March and <a href=\"https:\/\/dailycaller.com\/2021\/07\/14\/child-tax-credit-joe-biden-american-rescue-plan\/\" target=\"_blank\" rel=\"noopener noreferrer\">began in July<\/a>, extending for one year. While they have been credited with lifting millions of American children out of poverty, most Republicans oppose the policy as written, some Democrats have called for them to be more targeted towards lesser earners and some polls have shown the policy to have only <a href=\"https:\/\/dailycaller.com\/2021\/10\/06\/biden-child-tax-credit-democrats-permanent\/\" target=\"_blank\" rel=\"noopener noreferrer\">lukewarm support<\/a> among Americans, potentially jeopardizing its continuation beyond mid 2022.<\/p>\n<p>\u201cFamilies across the income spectrum commonly planned on using CTC funds for expenses like child care, extracurricular activities and building a college fund for their children,\u201d Dr. Stephen Roll, a research assistant professor at Washington University that helped lead the study, told the DCNF. \u201cIf the CTC expires, we would anticipate that many of these investments in children\u2019s futures would once again be out of reach for families in poverty.\u201d<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new study suggests that the child tax credit is not reducing overall employment nationwide but is driving some low and middle-income parents away from their private sector jobs and &#8230;<\/p>\n","protected":false},"author":65,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1096199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1096199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/65"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1096199"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1096199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1096199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1096199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1096199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}