The president announced today that families will be getting $300 a month in child tax credits, beginning in six weeks. This totals up to about 39 million households, according to the government.
The American Rescue Plan is delivering critical tax relief to middle class and hard-pressed working families with children. With today’s announcement, about 90% of families with children will get this new tax relief automatically, starting in July,” President Biden said in an announcement about the disbursement.
This money comes from a revision to the child tax credit, which originally allocated $2,000. Now, households get up to $3,600 per child under five years old and $3,000 for each child aged 6 to 17.
Clique, are you relieved to hear more money is coming your way?