The Biden administration announced Monday it will send out the first payments of the child tax credit starting in two months. The IRS will begin issuing the payments on July 15 and continue them on the 15th of each month. Officials say about 39 million households will receive the money. President Biden's $1.9 trillion stimulus law revamped the existing $2,000 child tax credit. It beefed up the amount to $3,600 per young child aged 5 and under, and $3,000 for every child between 6 and 17. It also provides households the option to receive a monthly $250 or $300 payment instead of a one-time sum at tax time.
So we want to hear from you: Do you agree with child tax credits being issued to families by the Biden administration?
Let us know below!