“New $3,000 child tax credit to start payments in July, IRS says”
April 14, 2021
“The IRS plans to begin sending monthly payments from the new $3,000 child tax credit in July, Commissioner Charles Rettig said Tuesday during a hearing with the Senate Finance Committee. The new and significantly expanded child tax credit was included in the $1.9 trillion American Rescue Plan signed into law by President Joe Biden in March. Under the law, families will receive a $3,000 annual benefit per child ages 6 to 17 and $3,600 per child under the age of 6 for the 2021 tax year…”
https://www.cnbc.com/2021/04/13/new-3000-child-tax-credit-to-start-payments-in-july-irs-says.html
Where is all this money coming from? The U.S. has a debt problem. The long term effects of policies like this will not be good.