WASHINGTON, D.C. (NBC) – According to the US Census Bureau, last month’s child tax credit checks led to a drop in the number of families seeking help putting food on the table.
Data from the bureau’s household pulse survey show the July payment came with a 3% drop in families experiencing food insecurity.
Nearly half of families receiving the first payout of the child tax credit reported spending some of the extra money on food, the survey showed.
The second payment is set to hit bank accounts Friday.
Around 35 million families received the payment last month, according to the IRS.
The advance payments, worth up to $300 for each child under age 5, and up to $250 for each child age 6 to 17, will continue each month through December.