Vasquez Votes to Pass Child Tax Credit Expansion, Helping 59,000 Children in Southern New Mexico

WASHINGTON, D.C. – On Wednesday, January 31, 2024, U.S. Representative Gabe Vasquez (D-N.M.-02) voted in favor of a significant expansion of the Child Tax Credit (CTC). This critical expansion, championed by Vasquez, will have sweeping positive impacts, mitigating child poverty in New Mexico’s second congressional district.

“Lowering the cost of living for New Mexicans is my top priority. That’s why I’m a strong supporter of expanding the Child Tax Credit and why I’m proud to see Congress come together in a bipartisan way to pass this critical bill and support families nationwide,” said Vasquez. “The Child Tax Credit reduced child poverty by 50 percent in New Mexico. Our children are our future and our families deserve the financial relief and opportunities necessary to succeed.”

New Mexico’s second congressional district has a higher-than-average child poverty rate, with over 26 percent of children in poverty compared to the national average of 16 percent. The expanded CTC will benefit 59,000 children in the district, according to the Joint Economic Committee Democrats. 

This bipartisan CTC expansion is designed to support families previously excluded from the full benefits of the credit. It is estimated to benefit 16 million children in low-income families across the country in its inaugural year, including nearly three million children under age three. The bill outlines modifications involving a per-child basis calculation. These changes are expected to apply to the tax years 2023-2025, gradually increasing the maximum refundable credit.

Vasquez has been a vocal proponent of this initiative and is proud to witness Congress unite across party lines to pass this crucial bill. He remains dedicated to championing legislation that improves the lives of families in New Mexico's second congressional district.

Rep. Vasquez is a cosponsor of the American Family Act to restore the full child tax credit that New Mexicans received under the American Rescue Plan. Vasquez will continue to push for passage of this legislation that includes the full $300 per month tax credit for children under six years of age.  

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