What The New Monthly Child Tax Credits Mean For You And Your Family
"For working families with children, this tax cut sends a clear message: Help is here," said President Biden, touting the tax credit that gives American families up to an extra $1,600 per child.
Roughly 39 million American families are eligible for monthly payments of up to $300 through the newly expanded child tax credit starting on July 15, the IRS and U.S. Treasury Department announced on Monday.
The advance child tax credit program is part of the Biden administration's $1.9 trillion economic aid package called the that was passed in March.
