By Josh Boak
The Treasury Department said Monday that 39 million families are set to receive monthly child payments beginning on July 15.
The payments are part of President Joe Biden's $1.9 trillion coronavirus relief package, which expanded the child tax credit for one year and made it possible to pre-pay the benefits on a monthly basis. Nearly 88% of children are set to receive the benefits without their parents needing to take any additional action.
“This tax cut sends a clear and powerful message to American workers, working families with children: Help is here,” Biden said in remarks at the White House.
Qualified families will receive a payment of up to $300 per month for each child under 6 and up to $250 per month for children between the ages of 6 and 17. The child tax credit was previously capped at $2,000 and only paid out to families with income tax obligations after they filed with the IRS.
But for this year, couples earning $150,000 or less can receive the full payments on the 15th of each month, in most cases by direct deposit. The benefits total $3,600 annually for children under 6 and $3,000 for those who are older. The IRS will determine eligibility based on the 2019 and 2020 tax years, but people will also be able to update their status through an online portal. The administration is also setting up another online portal for non-filers who might be eligible for the child tax credit.
The president has proposed an extension of the increased child tax credit through 2025 as part of his $1.8 trillion families plan. Outside analysts estimate that the payments could essentially halve child poverty. The expanded credits could cost roughly $100 billion a year.
Updated on May 17, 2021, at 2:06 p.m. ET with the latest details.
President Trump spoke in Nashville on Tuesday at The American Farm Bureau Convention. This is the first time we have heard from the President since the release of White House tell-all "Fire and Fury." Washington Examiner media reporter Eddie Scarry, weighs in as Trump made comments.
Illinois state legislators are crafting legislation to help the state welcome innovation in cryptocurrency. Illinois state Rep. Michael Zalewski (D) explains the market opportunity he sees in this space.
Oprah Winfrey for President? Former U.N. Ambassador Samantha Power on Obama's final year, and the Golden Globes kick off a new chapter in Hollywood. With The Young Turks, Extra, Magnolia Pictures, CBN News, Red Alert Politics Dr. Evan Antin, and more.
After serving more than 40 years in the Senate, Senator Orrin Hatch (R-UT) will retire at the end of the year. All eyes are on Mitt Romney, who now has a clear path to the Senate, and the ambitions to get him there.
Former UN Ambassador Samantha Power says North Korea was--and still is--the "hardest problem in the world."
The state legislator, a Democrat representing the 23rd district, says that the technology offers the government a chance to "hold information in an individualized way."
Is Attorney General Jeff Sessions doing the legalization movement a favor by rolling back Obama-era policies? Red Alert Politics' Lauren Cooley, and Democratic Coalition's Jarad Geldner, join Cheddar to break down what the move means for the country's booming marijuana market.
America is abuzz with talk of Oprah running for president in 2020. Should she run? The Young Turks' Emma Vigeland and The Daily Caller's Nick Givas discuss that and more on this week's edition of "Agree to Disagree."
Samantha Power, who served under President Barrack Obama, says that "we are locked at the hip with them" and advises the Trump administration on the best next step.
Nate Madden, CRTV's Congressional Correspondent, discusses Michael Wolff's book "Fire and Fury," which has raised questions about the president's mental fitness for office.
