Amna Nawaz:
Then, in March of 2021, President Biden signed the American Rescue Plan. The nearly $2 trillion relief package passed with only Democratic votes extended unemployment benefits, sent stimulus checks to individuals, ramped up food stamps and housing assistance, and significantly expanded the federal child tax credit, or CTC.
Pre-pandemic, that credit gave parents up to $2,000 per child. It came with an earnings requirement, and was paid in one lump sum at tax time. But the Rescue Plan raised the credit to $3,600 per child under 6 and to $3,000 for kids under 18. Half the amount came in monthly payments. And for the first time, even parents with no taxable income were eligible for the full amount.
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