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BRATTLEBORO â While itâs too early to know just how beneficial the child tax credit provision in the federal stimulus bill will be for community members, officials at local organizations foresee positive effects.
The $1.9 trillion pandemic relief package, signed into law by President Biden on Thursday, includes a one-year benefit to increase the tax credit from $2,000 to $3,000 per child age 6 to 17 or $3,600 per child under the age of 6 for single parents with annual incomes of $112,500 or households making up to $150,000 a year. Families will receive monthly checks instead of waiting for their tax returns.