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.