Press Release

Black Economic Alliance Calls for Immediate Action on The Tax Relief for American Families and Workers Act of 2024 Critical to Black American Families

By Black Economic Alliance |
Cheerful little girl sitting on father shoulder while playing with mother at home


WASHINGTON – Today, the Black Economic Alliance (BEA), a nonpartisan group of Black business leaders and aligned advocates, released the below statement from CEO Samantha Tweedy as Congress prepares to vote as early as this week on bipartisan legislation that would extend an expansion of the child tax credit: 

“The bipartisan legislation to enact a vital expansion of the Child Tax Credit is an important first step toward shifting the realities of millions of Black children living in families with low incomes.”

“The last expanded Child Tax Credit, a temporary measure included in the American Rescue Plan Act, lifted more than 716,000 Black children out of poverty, reducing the Black child poverty rate by more than 40 percent in 2021. Since the lapse of this credit in 2022, the rate of Black children living below the poverty line has again climbed to distressing levels in the United States. Ultimately, policymakers should reinstate the Rescue Plan expansion.”

“This crucial bipartisan legislation announced by Senator Ron Wyden (D-OR) and Representative Jason Smith (R-MO) is not only an investment in the more than one-third of Black children expected to receive financial support – over 3 million Black children – but it extends benefits to an estimated 16 million children nationwide within the first year, investing in the entire country’s future. The Black Economic Alliance calls on Congress to act swiftly and decisively on this proposal to both relieve immediate economic pressures on American families and build a foundation for their long-term prosperity.”


About the Black Economic Alliance
The Black Economic Alliance is a coalition of Black business leaders and aligned advocates committed to driving economic progress for the Black community through public policy, advocacy, and engagement with government and business leaders. Led by a board that includes executives from a range of industries including media, finance, pharmaceutical, nonprofit, and tech, BEA uses its collective power and business acumen to advance policies that will improve work, wages, and wealth for Black Americans. |