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Monthly Child-Tax-Credit Payments Cease, Ending Cushion for Family Budgets
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wsj.comFamilies are bracing for bank balances to suffer when the middle of January comes and the monthly child-tax-credit payment doesn’t.
More than 30 million households started getting up to $300 per child in July after Congress temporarily transformed an annual tax break into a near-universal monthly benefit. The full expanded credit went to households with incomes up to $75,000 for individuals, $112,500 for many single parents and $150,000 for married couples. Families spent the money on essentials like groceries and stashed it as emergency savings, researchers found.
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