HB1004 will help Virginia families meet the rising costs of raising children by providing a $300 refundable tax credit per child under 13 for households earning $100,000 or less. This is especially critical in Virginia, where 12.7% of children live below the poverty threshold according to 2023 Census data, a rate that has risen as pandemic-era supports have expired. When the federal Child Tax Credit was expanded in 2021, child poverty nationwide fell to a historic low of 5.2%. In Virginia, the share of families accessing the refundable credit more than doubled, from 10.2% to 23.5% of filers. When the expansion expired, child poverty more than doubled nationally, with Black and Latino children experiencing the steepest increases. While Congress continues to debate federal action, Virginia can act now. Eleven states have already established state-level child tax credits. HB1004's refundable structure ensures that families with little or no tax liability, often those most in need, can still benefit. Overall, this bill is one step in the right direction to support Virginia's working families and invest in children during their most formative years.