Child Tax Credits An ‘Underappreciated’ Stimulus That Could Boost Retail
Jul 15, 2021
This month, some 39 million households will begin receiving tax credit payments for each child under 18, a new relief program Cowen analysts called an “underappreciated catalyst for consumer spend” in a report this week. The program, part of President Joe Biden and congressional Democrats’ American Rescue Plan passed earlier this year, comes as the back-to-school shopping season ramps up and could benefit numerous retailers. Aimed at reducing child poverty, the checks could boost spending at food retailers, including Walmart and Target, according to Cowen. Also in line to benefit are Amazon and other e-commerce players, off-price retailers, and apparel and footwear sellers, analysts said. Read more at Retail Dive.
