- July 22, 2021
- Posted by: Stratford Team
- Category: Business
It’s been one week since families started receiving the first advance payment of the child tax credit. That money will help families make ends meet and help parents care for their children.
That money will have a much bigger impact. There are more than 2 million children in Michigan, and the monthly credit will mean hundreds of millions of dollars pouring into the state’s economy.
When those families spend the money, the positive impacts will ripple through the economy and even help Michiganders without kids.
Cheikh Diop is the owner of African Nubian Hair Braiding on Detroit’s Avenue of Fashion. He said business is picking up with back-to-school right around the corner, and parents having extra cash from the child tax credit could mean big business for small businesses like his.
“The child tax credit is a good impact because right now, I got a lot of people bringing children to come in to get their hair braided,” Diop said.
Dr. Eric Scorsone, a professor…
