Beginning July 15, most families with children will begin receiving monthly installments of the Child Tax Credit. Families will receive $250 per month for each child age 6 through 17 and $300 per month for children younger than 6.
For more information visit childtaxcredit.gov.
There’s also a fun video prepared by the Economic Security Project and Groundwork Collaborative that educates families about the Child Tax Credit in a lighthearted way.
Roughly 39 million households – covering 88 percent of U.S. children – will automatically receive Child Tax Credit payments monthly. The money will help families with children afford basic necessities such as housing, food, clothing, health care and child care.
Experts tell us we can cut child poverty nearly in half due to the Child Tax Credit – but only if people know about it. Households with 12 percent of the nation’s children won’t automatically receive the payments. These include non-filers who don’t have a tax filing requirement or chose not to file a tax return. Many of these households are likely home to families of color.