4 Questions Answered: A Monthly Allowance For Millions Of American Parents Soon
The federal government’s US$1.9 trillion relief package Congress passed on March 10 will temporarily expand the child tax credit.
This credit, currently pegged at up to $2,000 a year per child until they turn 17, will instead total $3,600 for children under 6 and $3,000 for kids up to the age of 18 over the next 12 months. Starting in July, the Internal Revenue Service will distribute half this money to most families with children in monthly payments of either $250 or $300 per child. The IRS will deliver the balance at tax time in 2022.
The Conversation U.S. asked Joya Misra, a sociologist who studies how public policies influence inequality, four questions about this new temporary benefit.
1. Why are families with children getting these benefits?
This program builds on the existing chil...