Low- and moderate-income households would benefit the most from a state Child Tax Credit in NC; corporate income tax cuts have most benefited the wealthy few

Share of proposed child tax credit benefit received by income level, compared to share of benefit received from corporate income tax cuts, based on 2024 incomes.

A bar chart showing the percent of households in North Carolina who reported difficulty paying usual household expenses in the last 7 days. The chart shows these percentages for households with and without children.
For the CTC, this analysis models the tax incidence of a policy that provides $1900 per child under 6 and $1600 per child for older children, phasing out at a rate of 5% for income above $35,000. For the CIT, this analysis models the tax incidence of reducing the CIT rate from 6.9% (the rate in 2013) to 2.5% (the rate in 2024.)
Chart: NC Budget & Tax CenterSource: Special data request to ITEPGet the dataEmbed Download imageCreated with Datawrapper