Millions of American families saw much-needed tax relief through the expanded Child Tax Credit. House Democrats worked hard to secure this assistance in the American Rescue Plan, which was signed into law in March. These monthly, automatic payments helped families pay for child care and other daily expenses and build better lives for our nation’s children. Here’s a look at how this vital relief will help American families and lift millions of children out of poverty.

 

 

Biden & Democrats, producing results for American families

 

IRS begins sending monthly checks to millions of American parents in crucial test for Biden

Biden administration to launch biggest anti-poverty program since Lyndon Johnson’s ‘War on Poverty.’

“The Biden administration on Thursday began the biggest anti-poverty program undertaken by the federal government in more than half a century, delivering monthly payments to the overwhelming majority of American parents for the first time…The Treasury Department said it has sent checks to households representing about 60 million children under a provision in a stimulus package Democrats passed in March…It could lift millions of American children out of poverty — which could translate into major improvements in child nutrition, educational outcomes and mental health for an enormous number of people.”

As the first child tax credit payments go out, Biden hails it as a step toward ending child poverty. (Published 2021)

For now, the monthly payments apply to 2021 only, although President Biden and some members of Congress hope to extend it for years.

“The payments, which will be disbursed through the Treasury Department, will provide all but the most affluent families up to $300 a month per child as part of the largest federal anti-poverty effort in decades. The size of the credit depends on a family’s income, the number of children and their ages… Among the country’s 74 million children, nearly nine in 10 will qualify for the payments.”

 

Biden sees U.S. child tax credit as ‘giant step’ to counter poverty

Some 35 million American families have received their first monthly payout from the U.S. government in an expanded income-support program that President Joe Biden said on Thursday could help end child poverty.

“Under the Child Tax Credit program that was broadened under Biden’s COVID-19 stimulus, eligible families collect an initial monthly payment of up to $300 for each child under six years old and up to $250 for each older child… The Democrat-backed $1.9 trillion COVID-19 legislation known as the American Rescue Plan enacted in March increased how much is paid to families under the program.”

 

Child Tax Credit Payments Totaling $15 Billion Arrive for Millions of Americans

The first monthly child tax credit payments are landing in bank accounts Thursday as lawmakers weigh whether the plan should last beyond December.

“Tens of millions of U.S. households can expect to see their bank balances grow Thursday, thanks to the first monthly payments of the expanded child tax credit… The Internal Revenue Service issued families payments of up to $300 per child under a program aimed at combating child poverty and turning lump-sum annual tax refunds into predictable household income.”

 

Child tax credit payments started hitting bank accounts today. Here’s what you need to know.

Most qualifying families will automatically receive the expanded payments, but those who don’t have to file taxes or haven’t done so will need to update their information with the IRS.

“Most eligible families in the U.S. will get their first monthly payments of the expanded child tax credit Thursday…The payments, which were included in the American Rescue Plan, change an existing tax credit by expanding the eligibility pool and increasing the money families get. Under the expanded credit, the IRS, also for the first time, is offering the option to receive the payments monthly, rather than in a lump sum as a tax refund. The expanded payments are expected to significantly decrease the number of children living in poverty; the White House estimates that child poverty could be reduced by as much as 50 percent.”

 

The Expanded Child Tax Credit Is Here. Here’s What You Need To Know

The first monthly payments under the expanded child tax credit were disbursed on Thursday. The White House says relief is on the way to the families of nearly 60 million children.

“Columbia University’s Center on Poverty and Social Policy estimated that the expanded child tax credit and other measures in the American Rescue Plan could lift 5 million children out of poverty, cutting child poverty in half in the U.S. That’s not only because the amount of the credit is higher this year; it’s also because in the past, families who earned very little were not eligible for the full amount….The Treasury Department estimates that 26 million children in low-income families who would have received less than the full credit under the previous rules will now get the full, expanded credit.”

 

Child Tax Credit 2021: Here’s how families say they’ll use “basic income for kids”

It was a choice between “back-to-school stuff or food” before the first government check arrived, one mom said.

“The parents of 60 million U.S. children on Thursday began receiving monthly checks through the expanded federal Child Tax Credit, a historic relief measure geared toward families of modest means. The money is sorely needed given the ongoing financial stresses from the pandemic, some parents told CBS MoneyWatch. The IRS said it sent out $15 billion in CTC checks on Thursday, with almost 9 of 10 of the payments directly deposited in recipients’ bank accounts.”

 

Child tax credit payments are going out. Here’s how to get yours.

All your questions on the expanded child tax credit, from who qualifies to how much you’ll receive.

“Eligible families who selected to receive monthly payments will begin getting child tax credits Thursday due to a law Democrats passed in March…the expanded child tax credit was passed into law as part of the American Rescue Plan. All told, the households of more than 65 million American children can expect to receive some of the American Rescue Plan’s $110 billion.” [7/15/21]

 

Child tax credit payments hit bank accounts, Biden touts it as a ‘middle-class tax cut’

President Joe Biden Thursday marked the first day of newly-increased child tax credit payments, touting it as a “tax cut for the middle class” and pushing for their continuation.

“The Child Tax Credit is being likened to a universal basic income for children, though it has income limits. Some 15 million households will now receive full credit. The monthly payments amount to $300 for each child who is 5 and younger and $250 for those between 5 and 17.”