April 2, 2024
For Colorado Families, Getting by is Getting Tough
By Elise Henson
This tax season, countless American parents will be waiting to receive their Child Tax Credit. They’ll use it to pay rent or other big bills, just like my husband and I plan to do. It’s welcome extra cash that can provide a cushion for emergencies or simply help cover the many everyday expenses that come with raising children.
Even for middle class families, getting by in Colorado is getting tough. When asked by the Colorado Health Foundation, Coloradans said their top concern is the rising cost of living.
A two-parent family with an infant and a preschooler living in the Denver metro area must earn $9,995 a month to meet their basic needs, and tax credits play an important role in covering those expenses.