Courtesy of fbi.gov
Courtesy of fbi.gov

In the second round of child tax credit payments that began over the weekend, the U.S. Treasury Department and the IRS announced that more than $15 billion were paid to families that include roughly 61 million eligible children.
The payments are in addition to monthly payments of the expanded Child Tax Credit from the American Rescue Plan passed in March, the department said.
Payments for August increased and cover an additional 1.6 million children and eligible families received a payment of up to $300 per month for each child under age 6 and up to $250 per month for each child age 6 to 17.
“Today 61 million children across America are benefiting from the advance Child Tax Credit, helping families put food on the table and meet the needs of the next generation,” said Deputy Treasury Secretary Wally Adeyemo. “We want every eligible family to have access to the advance Child Tax Credit, which is why we will continue our outreach efforts to drive enrollment as our children return to school.”
Overall, roughly half of those who received a CTC payment in July reported using it to pay for food and 1 in 4 spent some on clothing.

WI Guest Author

This correspondent is a guest contributor to The Washington Informer.

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