Child Tax Credit Payments Start Going Out In Mid-July
Starting in July, roughly 39-million American families will start receiving monthly child tax credit payments. The payments are covered by the massive COVID stimulus bill that was passed in March.
The bill raised the maximum payments families can receive per child this year, from two thousand to 36-hundred dollars. The White House hopes the payments will help significantly reduce child poverty. President Biden released a statement and called it “vital tax relief to hard-working families.”
President Biden is cheering the pending distribution. Speaking at the White House, Biden said it will give ordinary families a break. The payments will be sent automatically – taxpayers won’t need to take any action.
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SOURCE: NBC News