ICYMI - Union Leader: Families looking forward to expanded child tax credit
In Case You Missed It, the Union Leader’s Kevin Landrigan wrote about Senator Maggie Hassan’s virtual meeting with Granite State parents to discuss how the expanded child tax credit in the American Rescue Plan will provide much-needed financial relief to working families.
“U.S. Sen. Maggie Hassan, D-N.H., heard these and other stories, during a virtual discussion about changes to the federal child care tax credit that kicks in Thursday. “This is still a real tenuous time for a lot of people, especially for many women who haven’t been able to return to the workforce,” Hassan said Monday.”
“The American Rescue Plan passed by Congress in March expanded the tax credit, raising it from $2,000 per child to $3,000 for a child, 6-17 years old, and up to $3,600 for a child under 6. For the first time it will make these families eligible for monthly payments, $300 for younger children and $250 for school-age kids.”
“The change also makes the tax credit refundable for 2021. This means a low-income family can receive a tax refund check if the tax credit is greater than what they owe in total taxes that year. Liz Grady, a mother of four who is expecting a fifth child, said the credit will allow her family to catch up on its bills, something difficult to do with one income.”
“Sen. Hassan has proposed legislation to make the child care tax credit changes permanent. President Joe Biden’s own proposal would extend the benefits through 2025.”
Read the full article at the Union Leader.