GREENVILLE, N.C. (WNCT) — Many households across the US are seeing money hit their bank accounts. That’s because of the Child Tax Credit Payment.
NC Democrats held a press conference Thursday morning ahead of President Joe Biden’s message about this program. Parents can expect a monthly check until December. That’s when Congress will debate whether to continue the program.
The Biden administration paid out about $15 billion through the Child Tax Credit Payment. Estimates show that will impact about 60 million kids and their families. Each family receives $300 per child in a lump sum, but this credit isn’t anything new.
Previously, only people who earned enough money to owe income taxes could qualify for the credit. Now, Congress expanded who qualifies as part of the Coronavirus Relief Bill. Many parents say the extra funds will help while adjusting to post-pandemic life.
We will have childcare expenses now…new childcare expenses, with returning both to in-person school. We both work full time, so there’s after care, and then there’s day care.”Sarai Faison, mother of two
Biden said the payments would spur the largest one-year decrease in child poverty.
Click the below video to learn more from Thursday’s press conference.
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