Charts & Infographics

The Child Tax Credit (CTC) provides cash to families with children under six, reducing poverty and providing flexibility to meet their differing needs. In 2022, the Vermont Legislature enacted a Child Tax Credit for families with young children. In its second year, the CTC provided $24 million to 20,000 Vermont families.

Refundable tax credits are used to reduce personal income taxes; if the credit is more than the taxes due, the taxpayer receives the difference as a tax refund. Vermont’s Earned Income Tax Credit (EITC), which supplements the federal EITC and is available to low- and moderate- income working families and individuals, is a refundable credit. The Vermont Child Tax Credit (CTC), which can be claimed for each child under 6, was adopted in 2022 and is also refundable.

Refundable tax credits are used to reduce personal income taxes; if the credit is more than the taxes due, the taxpayer receives the difference as a tax refund. Vermont’s Earned Income Tax Credit (EITC), which supplements the federal EITC and is available to low- and moderate- income working families and individuals, is a refundable credit. The Vermont Child Tax Credit (CTC), which can be claimed for each child under 6, was adopted in 2022 and is also refundable.