Rep. John Yarmuth speaks with crowd about expanded child tax credit
Parents across the country will begin receiving monthly payments Thursday as a part of an expansion of the child tax credit under the American Rescue Plan.
The new payments will be up to $300 a month for children under 6 and up to $250 for children between the ages of 6 and 17. The amount of money parents can receive per child has increased by around $1000 overall. About 39 million households are eligible for the credit.
Guardians will receive the other half of the increased tax credit through their 2021 tax filings.
The bill also expands eligibility for the credits based on income and immigration status. Families who have not filed taxes in past years are also eligible for the monthly payments.
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