July 15, 2021
Tens of millions of families across the U.S. this week received their first monthly advance on the child tax credit from the IRS. The new monthly payments, which launched Thursday, are the result of a pandemic relief law that also temporarily boosted the credit's value. Households will receive up to $300 per month for each child under age 6, and up to $250 for each child ages 6 to 17. While the expanded credit is currently only on the books for this year, Democratic lawmakers are pushing to make sure it stays around long-term. House Ways and Means Committee member Suzan DelBene (D-Wash.) is among the lawmakers who have long championed an expanded tax credit as a way to help reduce child poverty. On this week’s episode of our podcast, Talking Tax, DelBene talks with reporter Kaustuv Basu about why Democrats pushed for the advanced payments and whether a permanent extension is possible. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
