Biden advisor speaks with 14 News about child tax credit
EVANSVILLE, Ind. (WFIE) - Some families have extra money in their bank accounts.
Starting Thursday, about 39 million households are receiving a monthly payment of up to $300 per child until the end of the year.
The move is part of the American Rescue Plan.
Families also have the option of getting a one time payment with their tax return the following April.
Heather Bouchey is a member of President Biden’s council of economic advisors and spoke with 14 News Thursday.
She says that although these monthly payments only go until December, they are working on future assistance.
“The monthly payments are going just to the end of the year, and then people will be able to get the second half of their payment as apart of filing their taxes next April. But the President is working very hard to extend this program into future years as apart of his Build Back Better Agenda that Congress is talking about right now,” said Boushey.
The payments will be based on 2020 tax return information.
Copyright 2021 WFIE. All rights reserved.