Child tax credit payments go out July 15: Here’s what you need to know

American parents are in for a payday.

The federal government will begin forking over monthly payments to millions of US families July 15 under President Biden’s controversial expanded child tax credit plan.

The cash — approved as part of the Democrat’s 1.9 trillion stimulus package in March — aims to prevent child poverty.

But critics say the checks, which are part of Biden’s coronavirus relief plan, are an expansion of the welfare state and a disincentive to work.

Here’s what you need to know about the child tax credit, including whether you’re eligible.

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