Child Tax Credit Payments Start Hitting Parents' Bank Accounts

CBS New York

July 15, 2021

The new Child Tax Credit starts hitting bank accounts Thursday, and millions of families will receive financial relief.

It’s part of the American Rescue Plan that Congress passed in March, boosting the Child Tax Credit.

“It does great things for our economy, pumping money into it. It does great things for families who had to struggle with COVID — so many families have had to struggle,” Senate Majority Leader Chuck Schumer said. “Most of all, what we’re proud of, it takes half the kids in New York out of poverty.”

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