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Biden’s new stimulus plan features family benefits that include an annual credit of up to $3,600

Joe Biden

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President-elect Joe Biden’s economic relief package unveiled on Thursday included yearly benefits for families with children, marking his first official step toward addressing child poverty.

According to Biden’s American Rescue Plan, the Child Tax Credit will be expanded so that families with children under the age of 6 will receive $3,600 per year, along with $3,000 per year for every child between the ages of 6 and 17. In addition, this credit will be “fully refundable,” meaning that taxpayers will get a refund check even if the tax credit is greater than their tax liability.

Families can currently details ⇒

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