The expanded monthly child tax credit will be permanent following the reintroduction of the American Family Act.
Expanded Monthly Child Tax Credit Will Be Restored and Permanent Following the Reintroduction of the Former Bill
The expanded monthly child tax credit expired in 2021, but the reintroduction of the American Family Act will restore it and make it permanent to bring relief to eligible low-income families with children every month.
According to the reports from Value Walk, the former bill will restore and make the expanded monthly child tax credit permanent to provide relief to several children, wherein children aged six and below will receive $300 while children aged six to 17 will get $250.
Following the new regulations, the expanded monthly child tax credit will aim to eliminate the income requirement for every household to provide full child tax credit to several eligible children.
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Making the Expanded Monthly Child Tax Credit Permanent Receives Support from Several Organizations
Following the plan to make the expanded monthly child tax credit permanent through the American Family Act, several individuals and organizations expressed their support as they believed it would ease the financial burdens of several low-income families.
The expanded monthly child tax credit reportedly provided relief to over 61 million children, which helped eligible families to access childcare and pay bills and other expenses to support their children.
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