White House: 1.2 million Tennessee children will benefit from federal tax credits

The new federal child tax credit goes into effect on Wednesday. President Joe Biden’s administration says 750,000 Tennessee families will start receiving checks this month.

Here’s a White House press release:

On July 15, 2021, for the first time ever, tens of millions of families covering nearly 60 million children across America will begin receiving monthly Child Tax Credit payments.

For every child 6-17 years old, eligible families will get up to $250 each month, and for every child under 6 years old, eligible families will get up to $300 each month.

More than 750,000 families in Tennessee will get a check in July. Over $321 million for Tennessee families to help 1.2 million children thrive.

The American Rescue Plan provides the largest ever Child Tax Credit:
$3,000-$3,600 per child for nearly all families.

All working families will get the full credit if they make up to $150,000 for a couple or $112,500 for a family with a single parent (also called Head of Household).

The expanded Child Tax Credit is a major step forward in tackling child
poverty Prior to the American Rescue Plan, low income families often got a smaller child tax credit than families with higher earnings. Now, the families of over 26 million children will get the full, expanded credit.

President Biden’s American Families Plan calls for extending this tax cut.

The expanded Child Tax Credit is currently only for 2021. That’s why President Biden strongly believes that we should extend the new Child Tax Credit for years to come.