U.S. Treasury: 39M Families to Receive Monthly Child Payments

U.S. Treasury: 39M Families to Receive Monthly Child Payments

WASHINGTON (AP) – The Treasury Department said 39 million families are set to receive monthly child payments beginning on July 15. The payments are part of President Joe Biden’s $1.9 trillion coronavirus relief package.

The law expanded the child tax credit for one year and made it possible to pre-pay the benefits on a monthly basis. Nearly 88% of children are set to receive the benefits without their parents needing to take any additional action.

Qualified families will receive a payment of up to $300 per month for each child under 6 and up to $250 per month for children between the ages of 6 and 17.

The child tax credit was previously capped at $2,000.

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