Stimulus Update: $3600 Child Tax Credit

If Congress takes action to enact its expanded form, a child tax credit payment could rise.

According to a statement from Schiff, the tax credit will return to its original amount of $2,000 per child in December 2021.

The American Rescue Plan of 2021, passed in response to the COVID-19 pandemic, increased the benefits of the Child Tax Credit.

For instance, it raised the tax credit from $2,000 to $3,000 for children aged 6 to 17 and from $2,000 to $3,600 for those under the age of 6.

In addition, the eligibility age was raised from 16 to 17 and the tax credit became fully refundable.

The congressman is specifically requesting that any year-end legislation from Congress include an extension of the expanded Child Tax Credit.

Democrats tend to support returning the credit to the much more lenient terms awarded in 2021. Republicans continue to disagree on tax credit increases,

though the party may be shifting in favour of the child benefit as they try to win over voters from the working class.

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