88% of children covered by monthly payments starting in July
By JOSH BOAK Associated Press
WASHINGTON (AP) — The Treasury Department says 39 million families are set to receive monthly child payments beginning on July 15.
The payments are part of President Joe Biden's $1.9 trillion coronavirus relief package. The law expanded the child tax credit for one year and made it possible to pre-pay the benefits on a monthly basis.
Nearly 88% of children are set to receive the benefits without their parents needing to take any additional action.
Qualified families will receive a payment of up to $300 per month for each child under 6 and up to $250 per month for children between the ages of 6 and 17.
The child tax credit was previously capped at $2,000.