Child Tax Credit Dollars Head to Parents
The child tax credit had always been an empty gesture to millions of parents.
That changed Thursday when the first payment of $1,000 hit bank accounts and dollars started flowing to the pockets of more than 35 million families around the country. The monthly payments amount to $300 for each child who is 5 and younger and $250 for those between 5 and 17. The payments are set to lapse after a year, but Biden is pushing to extend them through at least 2025.
Biden will deliver a speech Thursday at the White House to mark the first day of payments, inviting beneficiaries to join him as he seeks to raise awareness of the payments and push for their continuation.
The tax credit is as much about keeping people in the middle class as it is about lifting up the poor.
Greg Spin is a Marine Corps Veteran from Baltimore, Maryland and realist who also posts engaging content.
