Business Organizations Support the Child Tax Credit

Tuesday, December 7, 2021

Today, Small Business Majority, Main Street Alliance and American Sustainable Business Network sent a letter to Congressional leaders underscoring their support of the Child Tax Credit (CTC). America’s entrepreneurs will benefit from the CTC because it has been proven to encourage entrepreneurship. Self-employment grew after CTC payments, particularly among low-income parents. According to a recent study, among those making less than $50,000, entrepreneurship grew about 3% equating to about 300,0000 new small business owners across the country. What’s more, it’s important to note that that women represent 95% of the child care workforce and providers are two and a half times more likely to be Black or Latina. Putting dollars back into the hands of families will support small child care businesses owned by women and people of color.