Child tax credit starts hitting US families' bank accounts
Some 15 million U.S. households will receive the monthly payments, amounting to $300 for each child 5 and younger and $250 for those between 5 and 17
July 16, 2021
WASHINGTON - The child tax credit had always been an empty gesture to millions of parents like Tamika Daniel.
That changed Thursday when the first payment of $1,000 hit Daniel's bank account - and dollars started flowing to the pockets of more than 35 million families around the country. Daniel, a 35-year-old mother of four, didn't even know the tax credit existed until President Joe Biden expanded it for one year as part of the $1.9 trillion coronavirus relief package that passed in March.
Previously, only people who earned enough money to owe income taxes could qualify for the credit. Daniel went nearly a decade without a job because her eldest son is autistic and needed her. So she got by on Social Security payments. And she had to live at Fairfield Court, a public housing project that dead-ends at Interstate 64 as the highway cuts through the Virginia capital of Richmond.