If you have kids, you might see up to $300 in your bank account for each child, the first of many payments this year courtesy of the expanded federal child tax credit. Here's what you need to know:
Do you have children? Then check your bank account — you might see up to $300 there for each kid, the first of many payments this year courtesy of the expanded federal Child Tax Credit., a package of relief programs that President Biden signed into law in March to help the country overcome the coronavirus crisis. If everything goes as planned, the credit will help cut child poverty in half for 2021.
Some families who are benefiting from the credit were invited to the event at the White House complex where he spoke. Biden joked that the children, some of whom cried as he spoke, probably found the event boring and he hoped that someone would get them ice cream afterward.Vice President Kamala Harris spoke before Biden. “For families all over our country, for children all over our country, help is here,” she said.
Most families will receive half of the credit in monthly installments for the rest of the year and the other half after they file their tax returns that are due April 15.
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