President Biden & The House Working To Provide $3,000 Per Child

President Joe Biden prposed to expand the existing child tax credit, to send recurring monthly payments to American families.

The IRS would deposit checks worth $300 every month per child younger than 6 and $250 every month per child age 6 to 17. This would give parents $3,000 per year for each child between the ages of 6 to 17, and $3,600 per child under age 6.

Eligibility for the benefit would be based on family income for the prior tax year and be phased out at a certain income amount.

The President's proposal also includes an expansion of the Earned Income Tax Credit to more low-income workers, along with $1,400 stimulus checks, increased unemployment, nutrition and housing aid.

"All told, the American Rescue Plan would lift 12 million Americans out of poverty and cut child poverty in half. That's 5 million children lifted out of poverty," Biden said.

More than 48 million households are expected to claim the child tax credit for 2020.

Photos by Getty Images

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