Treasury and IRS Announce Families of 88% of Children in the U.S. to Automatically Receive Monthly Payment of Refundable Child Tax Credit

“The U.S. Department of the Treasury and the Internal Revenue Service announced today that the first monthly payment of the expanded and newly-advanceable Child Tax Credit (CTC) from the American Rescue Plan will be made on July 15. Roughly 39 million households — covering 88 percent of children in the United States — are slated to begin receiving monthly payments without any further action required.”

I’m not saying this will happen but I really wonder….once the Pfizer vaccine is approved for regular use (probably this summer), will continuation of these benefits be dependent on family/children being vaccinated for school, etc.? Thanks to CAF for bringing this to my attention.

https://home.treasury.gov/news/press-releases/jy0177

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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