Treasury, IRS detail Child Tax Credit disbursements

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The U.S. Department of the Treasury and the Internal Revenue Service (IRS) recently announced that more than $15 billion has been paid to families through the Child Tax Credit (CTC) second monthly payment.

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“Today 61 million children across America are benefiting from the advance Child Tax Credit, helping families put food on the table and meet the needs of the next generation,” Deputy Treasury Secretary Wally Adeyemo said. “We want every eligible family to have access to the advance Child Tax Credit, which is why we will continue our outreach efforts to drive enrollment as our children return to school.”

The funding allotment from the American Rescue Plan enables eligible families to receive up to $300 per month for each child under age six and up to $250 per month for each child age six to 17. Nearly half of parents receiving a July CTC payment indicated it was used to pay for food and 25 percent spent some of the funds on clothing.

The Biden administration would make a comprehensive effort to enroll eligible families in the CTC initiative, in addition to supporting long-term outreach and assistance endeavors needed as a means of ensuring the CTC aids the nation’s children.

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