Families paying off rent, food, debts with child tax credit - News Summed Up

Families paying off rent, food, debts with child tax credit


They qualified for the expanded child tax credit, part of President Joe Biden's $1.9 trillion coronavirus relief package. Families on average are getting $423 this month; the Treasury Department estimates that 35.2 million families received payments in July. In the past, eligible families got a credit after filing their taxes — either as a lump sum payment or a credit against taxes owed. Eligible families will receive $300 monthly for each child under 6 and $250 per older child. McKinney, who is married with a 5-year-old son and qualifies for the tax credit, is getting $167 a month.


Source: ABC News July 30, 2021 14:48 UTC



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